The Bank of England’s rate-setter, Jonathan Haskelhas once again made some statements today stating that “if we see signs of further inflation persistence, we will tighten policy“.
I refuse to comment on the appreciation in the market, but I can’t rule out further rate hikes.
We closely monitor the persistence of inflation.
Earlier, Haskel, a member of the Monetary Policy Committee, had said that the Bank of England needs to lean against the risk of a persistent boost to inflation, and may have to raise interest rates further.
“I prefer to lean against inflation-boost risks. As difficult as our current circumstances are, entrenched inflation would be worse,” Haskel said in a speech at the Peterson Institute for International Economics in Washington.
“Further increases in bank rates cannot be ruled out,” he added.
GBP/USD is in a key support zone and this could lead to a move back towards trend line resistance or if the bears do commit then we could see a sell off towards 1.2270.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.