Forex and Economic Daily Outlook by Lloyds TSB

Interest rate decisions by the Bank of England and European Central Bank head up the economic calendar this week. We expect both central banks to cut interest rates by 0.5% on Thursday as policymakers step up their efforts to try and stabilise economic activity. In the case of the BoE, there is speculation that an even bigger rate cut of up to a full 1% could be on the cards in the light of the negative Q3 gdp data and growing fears that the economic slowdown could be deeper and longer than previously anticipated by the MPC.



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