The pound is losing ground

The British pound went down against the US dollar based on the comments made by the representative of the Bank of England Silvana Tenreyro, see for more details …

The market was also fueled by the expectations of the Bank of England that the level of consumer inflation in October is likely to exceed the peak of 3%. When the inflation rate exceeds 3%, the Governor of the Bank of England, Carney, will explain the situation to Finance Minister Philip Hammond by sending him a letter from the Monetary Policy Committee.

This state of things suggests that the Bank of England management will wait for October inflation data, which excludes the possibility of raising the interest rate of the Central Bank at a meeting on November 2.

Alexander Sivtsov