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2025-10-28 19:44:59
[Mitsubishi UFJ: The pound may continue to be under pressure due to expectations of interest rate cuts and growth concerns] Mitsubishi UFJ economist Derek Halpenny said that due to rising market expectations for further interest rate cuts by the Bank of England and concerns about UK economic growth, the pound may continue to weaken against the euro in the short term. He pointed out that last week's UK inflation data was lower than expected, prompting the market to bet that the Bank of England may cut interest rates again sooner than expected. Mitsubishi UFJ expects that the euro may rise to 0.9000 against the pound. However, the bank also believes that if British Chancellor of the Exchequer Reeves can increase sufficient fiscal space in next month's budget to boost investor confidence, the pound may still rebound.
