| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 08:30 | United Kingdom | Consumer credit, mln | June | 1.494 | 1.25 | 1.162 |
GBP declined against other major currencies in the European session on Monday as investors prepared for the announcement of interest rate decisions by three central banks later this week, including the Bank of England on Thursday.
Markets now see a nearly 60% probability that the BoE will approve a 25-basis rate cut at its August 1 meeting. This would mark the first decrease in the British central bank’s benchmark rate since March 2020.
Markets will scrutinize the BoE’s accompanying statement and its governor Andrew Bailey’s post-meeting comments for clues regarding the central bank's path forward with interest rates.