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Currency News

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(06 Feb 2025, 14:34)

British Pound slides from one month high as Bank of England expected to cut rates further

British Pound has slipped today as a corrective moves is being witnessed in the currency ahead of the monetary policy announcement from the Bank of England (BOE). The BoE is expected to cut its benchmark rate by a quarter-point to 4.50% to support economic growth and GBP/USD is easing ahead of this, having come off a one month high in last session. The BoE had reduced the rate by 25 basis points each in August and November last year and a continuation of the stance is broadly being expected. GBP/USD is currently quoting at 1.2444, down 0.50% on the day amid these cues. On the NSE, GBP/INR futures are trading at 109.12, down 0.56% on the day.
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