The BoE facing a jump in inflation

14 October 2021, GBP/USD

The BoE facing a jump in inflation

GBPUSD trading plan:

UK Gross domestic product grew by 0.4% in August, after it was revised down to show a drop of 0.1% in July when staff absences linked to the Delta variant of COVID-19 peaked. After the latest official data, Britain's economy is now within 0.8% of its pre-pandemic size - a much smaller gap than when the last monthly figures were released thanks to upward revisions to output growth earlier in the year. The BoE, facing a jump in inflation, looks set to be the first major central bank to raise interest rates since the start of the pandemic. Investors are betting on a rise to 0.25% by the end of December, up from its all-time low of 0.1%.This is a positive signal for the British currency.

Investment idea: buy 1.3660 and take profit 1.3725.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus