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The BoE will not raise interest rates

The BoE will not raise interest rates | 09 October 2023

09 October 2023, GBP/USD

The BoE will not raise interest rates

GBPUSD trading plan:

British house prices fell at the fastest pace since 2009 over the 12 months to September, data from mortgage lending Halifax showed, echoing other measures of the housing market which have cooled after a jump in interest rates. Halifax said house prices were 4.7% lower last month than in September 2022, compared with a 4.5% annual fall in August. It was the biggest drop since August 2009 when the housing market was still in shock after the global financial crisis. Prices fell by 0.4% in September from August, a less severe monthly drop than August's 1.8% slide. The Bank of England looked set to keep rates high after pausing a run of 14 back-to-back increases last month, constraining buyer demand and putting downward pressure on house prices into next year.

Investment idea: sell 1.2200 and take profit 1.2105.

David Johnson
Analyst of «FreshForex» company
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