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The inflation targeting had failed

The inflation targeting had failed | 22 April 2022

22 April 2022, GBP/USD

The inflation targeting had failed

GBPUSD trading plan:

Bank of England Governor Andrew Bailey said the British central bank was walking a tight line between tackling inflation and avoiding recession, with the strength of the labour market a key question right now. "We are now walking a very tight line between tackling inflation and the output effects of the real income shock, and the risk that that could create a recession and pushes too far down in terms of inflation," Bailey said. Consumer price inflation hit 7% in March and last month the government's budget watchdog predicted it will peak at nearly 9% later this year - several times the BoE's 2% target.

Investment idea: sell 1.3055 and take profit 1.3000.

David Johnson
Analyst of «FreshForex» company
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