The pound is slightly weaker against the euro and dollar this morning as the possibility of negative interest rate cuts from the Bank of England continue to weigh. As coronavirus infection rates continue remain high in the UK, rumours of increased restrictions could also be taking their toll on sterling.
Bank of England officials will make speeches throughout the course of this week, including Governor Andrew Bailey on Thursday. It’s thought that this could provide an insight into whether the Bank will cut interest rates at their February monetary policy meeting. Bank of England official, Silvia Tenreyro, will address the topic of negative interest rates directly later today.
This week is light on economic data for the UK, but there will be some releases on Friday, including GDP and industrial production figures.
