{"id":118543,"date":"2024-11-07T11:53:37","date_gmt":"2024-11-07T11:53:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118543"},"modified":"2024-11-07T15:02:17","modified_gmt":"2024-11-07T15:02:17","slug":"109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\/","title":{"rendered":"GBP\/EUR: Pound falls ahead of BoE rate cut"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) falls after gains yesterday<\/strong><\/li>\n<li><strong>BoE is expected to cut rates by 25bps<\/strong><\/li>\n<li><strong>Euro (EUR) is rising after strong gains<\/strong><\/li>\n<li><strong>Euro rises after mixed data<\/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 falling modestly lower after strong gains yesterday. The pair rose 0.65% in the previous session, settling on Wednesday at \u20ac1.2002 and trading in a range between \u20ac1919 and \u20ac1.2027. At 11:00 UTC, GBP\/EUR trades -0.06% at \u20ac1.1995.<\/p>\n<p>The pound is edging lower in cautious trade ahead of the Bank of England&#8217;s interest rate decision at 1200 GMT. The central bank is expected to cut interest rates by 25 basis points for a second time this year after reducing rates by 25 basis points in August when it kicked off its rate-cutting cycle.<\/p>\n<p>The meeting comes as inflation in the UK cooled to 1.7% year on year in September, below the central bank&#8217;s 2% target. Meanwhile, wage growth and service sector inflation, which have been high, also showed signs of cooling.<\/p>\n<p>With the rate cut priced in, attention will be on the outlook, particularly in light of Labour&#8217;s budget last week, which is expected to have an inflationary impact over the coming years.<\/p>\n<p>The Bank of England is unlikely to guide out toward the December rate cut and may adopt A more cautious approach following the budget.<\/p>\n<p>The euro is holding steady after steep losses yesterday as the dust settles on President Trump&#8217;s victory in the U.S. presidential elections.<\/p>\n<p>Today, the focus is back on the economic calendar with mixed data from the region.<\/p>\n<p>German industrial production was weaker than expected, falling 2.5% month over month in September after rising 2.6% in August. Expectations had been for a smaller drop of -1%. D4elving deeper into the data,\u00a0 automotive production tanked 7.8% in September after rising 15.4% in August.<\/p>\n<p>Meanwhile, eurozone retail settles or is slightly stronger than expected, with sales increasing 0.5% month on month in September. This is double the 0.2% achieved in August and ahead of the 0.4% forecast. The data suggest that the consumer is holding up as inflation in the region cools and interest rates rise.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls after gains yesterday BoE is expected to cut rates by 25bps Euro (EUR) is rising after strong gains Euro rises after mixed data The Pound Euro (GBP\/EUR) exchange rate is falling modestly lower after strong gains yesterday. The pair rose 0.65% in the previous session, settling on Wednesday at \u20ac1.2002 and trading [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5060,"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":{"0":"post-118543","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","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: Pound falls ahead of BoE rate cut - 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\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\/\" \/>\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\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls ahead of BoE rate cut\",\"datePublished\":\"2024-11-07T11:53:37+00:00\",\"dateModified\":\"2024-11-07T15:02:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/\"},\"wordCount\":348,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100739-gbp-eur-boe-lifts-pound-vs-euro.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\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109332-gbp-eur-pound-falls-ahead-of-boe-rate-cut\\\/\",\"name\":\"GBP\\\/EUR: Pound falls ahead of BoE rate cut - 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