BoE Rate Hold Leaves GBP/EUR Under Pressure

The Bank of England (BoE) held interest rates at 3.75%, leaving the Pound to Euro exchange rate under pressure.

This decision, announced on Thursday, reinforced expectations that UK policymakers will remain more cautious than the European Central Bank and Federal Reserve in their monetary policy decisions.

The Pound slipped below 1.1650 after the announcement but stabilised as stronger-than-expected retail sales data provided some support for Sterling.