ING: If Bank of England Governor Bailey downplays rate hike expectations, the pound may come under pressure and decline

```htmlGolden Ten Data reported on April 14 that ING analyst Francesco Pesole stated in a report that Bank of England Governor Bailey's speech later today may downplay expectations for an interest rate hike, which could put pressure on the pound. Pesole believes Bailey may maintain a balanced tone, "implying a current inclination to hold steady." Pesole added that the Bank of England is unlikely to raise rates as expected, which may push the EUR/GBP exchange rate closer to the 0.88 level. According to London Stock Exchange Group data, the market expects the Bank of England to raise interest rates by 40 basis points before the end of the year.```