Live Updates > Live Update Details
2025-11-03 16:48:08
[Pound Weakens Ahead of Bank of England Rate Cut Expectations] ⑴ The pound weakened ahead of the Bank of England's policy meeting as market expectations for another rate cut intensified. ⑵ Interest rate futures data showed a 30% probability of a 25 basis point rate cut to 3.75% on Thursday. ⑶ ING analysts noted that the Bank of England may prefer to wait for the autumn budget report later this month before taking action. ⑷ Given that interest rates are expected to fall to a low of 3.25% next summer, it is difficult to be bearish on the pound simply because the rate-cutting cycle is not fully priced in. ⑸ The euro rose slightly by 0.1% against the pound to 0.8776, while the pound fell 0.2% against the dollar to 1.3131.
