Bank of England meeting results
- The total amount of the QE program of the Bank of England (June), fact 435B, forecast 435B.
- Interest rate decision (June), fact 0.75%, forecast 0.75%.
According to the results of the June meeting of the Bank of England, the key parameters of the UK economy were kept unchanged. The text of the protocol of the Bank of England. Despite this, the British pound was under the pressure across the market. The reason for which was the preservation of the risks of a UK exit from the EU without a deal, which can significantly complicate the transitional period and further trade relations between countries, and the data that consumer inflation is likely to slow down to a level of 1.7% by the end of the year, below target 2 %
Thus, the Central Bank of Great Britain is preparing to slow down inflation and the risks of a tough Brexit. Thus, pressure on the British pound increased across the market. The GBP/USD pair retreated from the weekly highs at 1.2730 and forms a downward correction to the support levels: 1.2640 and 1.2600.
Fig. GBP/USD chart. The current price is 1.2690.
Read also: “Cross Rate Trading. Features”
Hanzenko Anton
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