Reuters - We tend to believe that they will cut by 25 basis points today. If they do cut we will definitely see the euro move towards the record high of 72.55 pence but potential for a move much beyond that is limited. We had the (Halifax) house price index falling 1.1 percent month on month -- that's been falling now for three consecutive months which is the first time since the last housing recession. Combined with the services PMI ... which fell more than expected, we think that tipped the balance in favour of a rate cut today.
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