[ING: If Bank of England Governor Bailey Downplays Rate Hike Expectations, GBP May Come Under Pressure] Jin10 News, April 14 – ING analyst Francesco Pesole stated in a report that Bank of England Governor Andrew Bailey's speech later today might downplay rate hike expectations, potentially putting pressure on the British pound. Pesole believes Bailey may maintain a balanced tone, 'indicating a current preference to hold steady.' Pesole noted that the Bank of England is unlikely to raise rates as expected, which could push the EUR/GBP exchange rate closer to the 0.88 level. According to data from the London Stock Exchange Group, the market expects the Bank of England to raise rates by 40 basis points by the end of the year.