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UK became the first G7 economy to hike interest rates

UK became the first G7 economy to hike interest rates | 17 December 2021

17 December 2021, GBP/USD

UK became the first G7 economy to hike interest rates

GBPUSD trading plan:

Britain became the first G7 economy to hike interest rates since the onset of the pandemic. Bank of England policymakers raised the benchmark Bank Rate to 0.25% from 0.1%, confounding economists' expectations that it would stay on hold. The BoE said inflation was set to hit 6% in April, three times the BoE's target level. "The Committee continues to judge that there are two-sided risks around the inflation outlook in the medium term, but that some modest tightening of monetary policy over the forecast period is likely to be necessary to meet the 2% inflation target sustainably," the UK central bank said. This is a positive signal for the British currency!

Investment idea: buy 1.3306 and take profit 1.3372.

David Johnson
Analyst of «FreshForex» company
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