The British pound weakened against other major currencies in the European session on Thursday, as traders await the Bank of England (BOE) monetary policy decision due later in the day. The BoE is set to announce its monetary policy decision later today. Markets anticipate the BoE to maintain its benchmark rate at 3.75 percent, the lowest since June 2023.
The U.K. Consumer Price Index data that was released on Wednesday showed that the monthly inflation decreased to 0.2% from 0.7% in the previous month and core inflation increased below forecasts, yearly inflation stayed stable at 2.8%, much lower than the 3.3% peak recorded in March. There is less pressure on the Bank of England to raise interest rates in the upcoming months because May's inflation data is lower than the bank's February forecasts.
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Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.