{"id":118278,"date":"2024-09-14T09:28:31","date_gmt":"2024-09-14T08:28:31","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118278"},"modified":"2024-09-14T09:45:36","modified_gmt":"2024-09-14T08:45:36","slug":"109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\/","title":{"rendered":"GBP\/EUR: Euro falls across the week that the ECB cut rates"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) holds steady but gains across the week<\/strong><\/li>\n<li><strong>UK consumer inflation expectations<\/strong><\/li>\n<li><strong>Euro (EUR) falls across the week<\/strong><\/li>\n<li><strong>ECB cut rates by 25 bps<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is holding steady after gains yesterday. The pair rose 0.07% in the previous session, settling on Thursday at \u20ac1.1849 and trading in a range between \u20ac1.1829 and \u20ac1.1854. At 21:00 UTC, GBP\/EUR trades -0.03% at \u20ac1.1846. The pair rose 0.1% across the week after losses last week.<\/p>\n<p>The pound hardly moved against the euro on Friday, amid another relatively quiet day for the<\/p>\n<p>UK economic calendar: the calendar has been relatively sparse at the end of this week. The only figure that the market had to digest was UK consumer inflation expectations, which cooled to 2.7%, down from 2.8%. While this is still significantly above the Bank of England&#8217;s 2% target level for inflation, it is at least trending in the right direction.<\/p>\n<p>Instead, attention is turning firmly to next week, when the UK inflation data will be released ahead of the Bank of England\u2019s interest rate decision on Thursday.<\/p>\n<p>The Bank of England is widely expected to leave interest rates unchanged after cutting by a quarter of a percent in the August meeting.<\/p>\n<p>The euro is unchanged on Friday but is set to fall against the pound throughout the week. This is a week in which the ECB cut interest rates for a second meeting. The central bank reduced interest rates by 25 basis points and also downwardly revised the growth forecasts for the region.<\/p>\n<p>Recent data from the eurozone region, and more particularly from Germany, have pointed to a deteriorating economic outlook.<\/p>\n<p>Still, the ECB refrained from setting a formal cutting timetable and instead reiterated that they were data-dependent.<\/p>\n<p>Looking ahead the euro area economic calendar is quiet area next week which could leave sentiment to drive movement in the common currency.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) holds steady but gains across the week UK consumer inflation expectations Euro (EUR) falls across the week ECB cut rates by 25 bps The Pound Euro (GBP\/EUR) exchange rate is holding steady after gains yesterday. The pair rose 0.07% in the previous session, settling on Thursday at \u20ac1.1849 and trading in a range [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4395,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[3345,2649,1394,2410],"class_list":{"0":"post-118278","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eir","10":"tag-eur-gbp","11":"tag-gbp","12":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro falls across the week that the ECB cut rates - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro falls across the week that the ECB cut rates\",\"datePublished\":\"2024-09-14T08:28:31+00:00\",\"dateModified\":\"2024-09-14T08:45:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/\"},\"wordCount\":321,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100385-gbp-eur-cautious-ecb-tone.jpg\",\"keywords\":[\"EIR\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109249-gbp-eur-euro-falls-across-the-week-that-the-ecb-cut-rates\\\/\",\"name\":\"GBP\\\/EUR: Euro falls across the week that the ECB cut rates - 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