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BoE to continue raising rates

BoE to continue raising rates | 15 September 2022

15 September 2022, GBP/USD

BoE to continue raising rates

GBPUSD trading plan:

British consumer price inflation fell for the first time in almost a year in August as a drop in fuel prices offered some unexpected - and probably brief - respite to households and the Bank of England. Annual consumer price growth slowed to 9.9% from July's 40-year high of 10.1%, the Office for National Statistics said. The inflation was likely to peak at around 11% in October when a new household energy tariff cap begins, and said it could be slow to fall due to underlying pressures and new government fiscal stimulus. Financial markets see an 80% chance that the BoE will raise rates by 0.75 percentage points to 2.5% on Sept. 22.

Investment idea: buy 1.1475 and take profit 1.1525.

David Johnson
Analyst of «FreshForex» company
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