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GBP/EUR Stalls at 1.17 Level as BoE Hike Doubts Grow

Guavy AI Editorial Team
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The Pound to Euro exchange rate (GBP/EUR) stabilized at around €1.1680 on Thursday evening, but failed to break through the crucial 1.1700 level following the Bank of England's latest policy announcement.

The BoE voted 6-3 to leave Bank Rate unchanged at 3.75%, with Huw Pill, Megan Greene, and Catherine Mann preferring an immediate increase to 4.00%.

MUFG and Rabobank warned that the central bank's wider message still suggested policymakers were prepared to wait before raising interest rates again.

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