The Pound is rising against the Euro, and the Bank of England will announce its interest rate decision on Thursday.

Before the Bank of England announced its interest rate decision on Thursday, the pound rose to its highest level against the euro in five months. The market widely expects the Bank of England to maintain interest rates. Mitsubishi UFJ's Lee Hardman said in a report that recent data shows the UK economy is strengthening, leading market participants to postpone their expectations for the timing of the next rate cut. He said, "Without further direct catalysts for a rate cut, the Bank of England may remain cautious on further rate cuts earlier this year." Data from the London Stock Exchange group show that the UK money market has not fully priced in expectations of a rate cut before July. Data from the London Stock Exchange group show that the euro fell to a low of 0.8613 pounds against the pound.