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The BoE raised interest rates to 0.5%

The BoE raised interest rates to 0.5% | 04 February 2022

04 February 2022, GBP/USD

The BoE raised interest rates to 0.5%

GBPUSD trading plan:

The Bank of England raised interest rates to 0.5% and nearly half its policymakers wanted a bigger increase to contain rampant price pressures, which the British central bank warned would push inflation above 7%. British government bonds sold off, with the 10-year yield at its highest since January 2019. Britain was facing an "extreme example" of an economic shock that would raise the cost of living for everyone, Bailey warned. The BoE said consumer price inflation - which was 5.4% in December - should peak at around 7.25% in April, which would be the highest rate since the recession-ravaged early 1990s and miles off its 2% target.

Investment idea: buy 1.3566 and take profit 1.3638.

David Johnson
Analyst of «FreshForex» company
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