BoE need to be patient | 17 Abril 2023

GBPUSD trading plan:

Bank of England policymaker Silvana Tenreyro said past interest rate rises would take time to bear down on inflation, and that it was important not to over-adjust policy while the impact of these past rate rises was feeding through. "We need to be patient," she said at a panel discussion hosted by the International Monetary Fund in Washington. "We don't want to get burned. We don't want to get an ice-cold shower." Financial markets see a roughly two in three chance that the BoE will raise its main interest rate next month to 4.5% from 4.25%, which would be its 12th consecutive rate rise since December 2021.

Investment idea: range 1.2370 - 1.2470.