{"id":118308,"date":"2024-09-19T11:58:17","date_gmt":"2024-09-19T10:58:17","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118308"},"modified":"2024-09-19T19:00:16","modified_gmt":"2024-09-19T18:00:16","slug":"109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\/","title":{"rendered":"GBP\/EUR: Pound rises ahead of the BoE rate decision"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is rising after gains yesterday<\/strong><\/li>\n<li><strong>BoE is expected to leave rates unchanged<\/strong><\/li>\n<li><strong>Euro (EUR) falls amid a quiet economic calendar<\/strong><\/li>\n<li><strong>ECB is expected to continue cutting rates<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising for a second straight day. The pair rose 0.32% in the previous session, settling on Tuesday at \u20ac1.1841 and trading in a range between \u20ac1.1826 and \u20ac1.1881. At 09:00 UTC, GBP\/EUR trades 0.18% at \u20ac1.1862.<\/p>\n<p>The pound is inching higher against the euro on the US dollar ahead of the Bank of England&#8217;s interest rate decision at 12 BST.<\/p>\n<p>The central bank is widely expected to leave interest rates unchanged at 5% after narrowly voting to cut rates from a 15-year high in the August meeting.<\/p>\n<p>Today\u2019s rate decision comes after data yesterday showed that inflation in some areas of the economy remained sticky.<\/p>\n<p>While UK inflation, as measured by the consumer price index, held steady at 2.2%, service sector inflation rose by more than expected to 5.6%. Core inflation was also higher.<\/p>\n<p>The data suggests that inflation is still too sticky to warrant another can&#8217;t by the Bank of England. However, investors will be watching out for clues that the Bank of England will cut again in November.<\/p>\n<p>The market is pricing in a 25-basis-point cut again in November and possibly a further 25-basis-point cut in December.<\/p>\n<p>The euro is modestly weaker amid a quiet economic calendar. Yesterday&#8217;s inflation figures showed that consumer prices in the eurozone rose 2.2% year over year in August but just 0.1% monthly.<\/p>\n<p>ECB policymakers support the central bank cutting interest rates again, although they are careful not to set a fixed path to rate cuts.<\/p>\n<p>In the meeting last week, the ECB said it would continue with a meeting-by-meeting approach to reducing rates.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is rising after gains yesterday BoE is expected to leave rates unchanged Euro (EUR) falls amid a quiet economic calendar ECB is expected to continue cutting rates The Pound Euro (GBP\/EUR) exchange rate is rising for a second straight day. The pair rose 0.32% in the previous session, settling on Tuesday at \u20ac1.1841 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":3873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-118308","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound rises ahead of the BoE rate decision - 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\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\/\" \/>\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\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises ahead of the BoE rate decision\",\"datePublished\":\"2024-09-19T10:58:17+00:00\",\"dateModified\":\"2024-09-19T18:00:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/\"},\"wordCount\":298,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/10082-gbp-usd-rate-decision.jpg\",\"keywords\":[\"eur\",\"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\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109260-gbp-eur-pound-rises-ahead-of-the-boe-rate-decision\\\/\",\"name\":\"GBP\\\/EUR: Pound rises ahead of the BoE rate decision - 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