Sterling Could Fall on Prospect of BOE Avoiding Rate Rises
Dow Jones
Jul 30
0918 GMT - Sterling could fall if the Bank of England votes 7-2 to leave interest rates unchanged at 3.75% Thursday, as expected, and its new inflation forecasts argue against future rate rises, ING's Chris Turner says in a note. "The BOE is probably not under as much pressure as the Federal Reserve to hike and as tightening expectations fade later this year, sterling should gradually weaken." The BOE announces its decision at 1100 GMT. The euro falls 0.1% to 0.8572 pounds and ING sees it potentially reaching 0.8600-0.8610 on Thursday.
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