| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 08:55 | Germany | Services PMI | November | 51.6 | 49.4 | 49.3 |
| 09:00 | Eurozone | Services PMI | November | 51.6 | 49.2 | 49.5 |
| 09:00 | United Kingdom | BOE Gov Bailey Speaks | | | | |
| 09:30 | United Kingdom | Purchasing Manager Index Services | November | 52.0 | 50 | 50.8 |
| 10:00 | Eurozone | Producer Price Index, MoM | October | -0.6% | 0.4% | 0.4% |
GBP traded flat and mixed against other major currencies in the European session on Wednesday as investors digested the latest remarks from the Bank of England’s governor Andrew Bailey.
In an interview with the Financial Times, Bailey admitted a faster-than-anticipated decline in price growth in the UK, adding that the disinflation process is now well embedded. The BoE’s chief also revealed that he expects four 25-basis-point interest rate decreases in 2025 and stressed that gradual moves are pursued.
Meanwhile, S&P Global reported its final estimates showed that Britain's services sector sustained a loss of momentum last month, although not by as much as initially thought. The UK services purchasing managers index (PMI) came in at 50.8 in November, compared to 50.0 in the preliminary estimate and the October reading of 52.0. This marked the lowest reading for 13 months.