0821 GMT - Sterling could rally if the Bank of England reiterates a gradual approach to interest-rate cuts at Thursday's meeting, ING's Chris Turner says in a note. The BOE is expected to cut rates by 25 basis points in a decision at 1102 GMT but some market participants expect it to drop its "gradual and careful" reference about future cuts. "Given that the market is now pricing four 25 basis-point rate cuts this year and we expect three (May, August, November), if BOE easing remains gradual and careful, sterling could rally," Turner says. In this case the euro could fall to 0.8435-0.8440 pounds, he says. the euro last trades down 0.1% at 0.8501 pounds. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 04:21 ET (08:21 GMT)
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