Hey Hey its Bank of England rate cut Day! ...Middle East

The move comes as the central bank faces conflicting pressures:

a weakening labour market, partly worsened by recent tax hikes and Trump trade tensions, versus persistent inflation running above target.

Markets will be watching closely for any change in the BoE’s "gradual and careful" guidance, which has so far implied one cut per quarter. But with inflation possibly reaching 4% in coming months—double the BoE's 2% target—that pace may come under review.

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Deutsche Bank sees BoE cutting again, but says ECB may be done easing

EUR/GBP the central pair to watch in all this. EUR has caught a bid at the expense of the UK pound heading into today's meeting, which makes sense. The question for traders is if that will continue. I expect some sort of 'sell the fact' response later.

This article was written by Eamonn Sheridan at investinglive.com.

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