Sterling Likely to Fall on Weak Growth, BOE Stance -- Market Talk

Dow Jones06-09

1354 GMT - Sterling could fall due to a relatively weak U.K. outlook and the prospect of the Bank of England taking a cautious stance on raising interest rates, Danske Bank's Bjorn Tangaa Sillemann says in a note. Data since the BOE's April meeting support the case for keeping rates unchanged on June 18, he says. The U.K. purchasing managers survey for May was weak while job losses accelerated in April and inflation was lower than expected in April. The BOE will likely remain sidelined for the foreseeable future, although policymakers could soon become divided over whether to raise rates, he says. Danske expects the euro to rise to 0.89 pounds in six to 12 months from 0.8632 currently. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

June 09, 2026 09:54 ET (13:54 GMT)

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The U.K. purchasing managers survey for May was weak while job losses accelerated in April and inflation was lower than expected in April. The BOE will likely remain sidelined for the foreseeable future, although policymakers could soon become divided over whether to raise rates, he says. Danske expects the euro to rise to 0.89 pounds in six to 12 months from 0.8632 currently. 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