0802 GMT - Sterling falls as investors exercise caution ahead of the Bank of England's interest-rate decision at 1200 GMT. The market is pricing in a 94% chance of the BOE cutting rates by 25 basis points, according to LSEG. This marks the first decision since the U.K. government bond selloff last month. "Indeed, at the height of the pound's slump, there had been speculation about whether the BOE would cut at all at this meeting," Deutsche Bank analysts say in a note. However, the latest inflation data were lower than expected and this supported market bets for another cut. Deutsche Bank expects a 8-1 vote in favor of a cut. GBP/USD falls 0.2% to 1.2476. EUR/GBP rises 0.1% to 0.8325. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 03:02 ET (08:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.