0934 GMT - Sterling could fall if Bank of England chief economist Huw Pill hints at accelerating interest rate cuts in a speech at 1400 GMT, ING analyst Francesco Pesole says in a note. Pill favors gradual rate cuts but any comments that signal a faster pace of policy easing could have a tangible impact on rate expectations, he says. Markets are pricing in just 56 basis points of further cuts this year, according to LSEG. "We expect three more cuts this year, also due to the worsening fiscal picture." GBP/USD is a "cleaner way to play sterling downside" rather than EUR/GBP, given the euro's own challenges, Pesole says. GBP/USD trades flat at 1.2625. EUR/GBP rises 0.1% to 0.8296. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 04:34 ET (09:34 GMT)
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