Gbp news now

Here are the latest news updates on the British Pound (GBP):

Current Exchange Rate:

• GBP/USD: 1.3845 (down 0.15% from yesterday)
• GBP/EUR: 1.1745 (down 0.20% from yesterday)

News:

1. UK Inflation Rate Rises to 2.5%: The UK's Consumer Prices Index (CPI) rose to 2.5% in August, up from 2.1% in July, according to the Office for National Statistics (ONS). This is the highest inflation rate since November 2017.
2. BoE Keeps Interest Rates Unchanged: The Bank of England (BoE) has kept its benchmark interest rate unchanged at 0.75% for the 10th consecutive month, citing a "balanced" view on the economy.
3. UK GDP Growth Slows to 0.3%: The UK's gross domestic product (GDP) grew by 0.3% in the second quarter of 2022, down from 0.4% in the first quarter, according to the ONS.
4. Brexit Talks Resume: The UK and EU have resumed talks on a post-Brexit trade deal, with the UK's Chief Negotiator, David Frost, saying that "significant progress" has been made.
5. Sterling Volatility: The pound has been volatile in recent days, driven by concerns over the UK's economic outlook and the impact of Brexit on trade and investment.

Market Analysis:

• The pound is likely to remain under pressure in the short term due to concerns over the UK's economic outlook and the impact of Brexit on trade and investment.
• The BoE's decision to keep interest rates unchanged has provided some support to the pound, but the currency is still vulnerable to fluctuations in global markets.
• The UK's inflation rate is expected to remain above the BoE's 2% target in the coming months, which could lead to further interest rate hikes.

Economic Calendar:

• UK Retail Sales (August): 9:30 AM BST
• UK GDP (Q2): 9:30 AM BST
• BoE Governor Andrew Bailey's Speech: 12:00 PM BST

Please note that the information provided is for general purposes only and should not be considered as investment advice. It's always a good idea to consult with a financial advisor or conduct your own research before making any investment decisions.