March 23, 2023 – Written by John Cameron
STORY LINK Pound Euro Exchange Rate News: GBP/EUR Traded Erratically Ahead of BoE Interest Rate Decision
Pound (GBP) Undermined by Dovish Rate Hike Fears
The Pound (GBP) traded without a clear direction on Thursday as the market await the latest interest rate decision from the Bank of England (BoE). Amid the banking sector turmoil and a shaky UK economy, the central bank will have to tread carefully with the decision.
Red-hot inflation reading from Wednesday saw a surge in rate hike bets, with the probability of a 25bps raise sat at 80%. Against an expectation of easing to 9.9%, annualised inflation…
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