CBA like GBP lower - weak GDP, likely BoE rate cut

CBA like sterling down to under 1.27, citing

• slow GDP growth
• Likely Bank of England interest-rate cut at the January 30 meeting … and if not Jan, then in March

More:

• rate cut is clearly needed
• economy slowest growth in 10 years
• inflation at 1.5%, slowest in 2 years
• trade deficit, current-account deficit will keep capping GBP on any rallies

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Rate cut talk has ignited after this over the weekend:

• Bank of England MPC member Vlieghe says he is ready to cut interest rates if data does not improve

• Bank of England policy maker tips the scales towards an imminent rate cut (maybe)