The EUR/GBP cross attracts some buying on Monday amid sustained selling around the British pound. The gloomy economic outlook from the Bank of England turns out to be a key factor weighing on the British pound. A combination of factors weighs on the euro and limits significant gains in the pair. The crossing EUR/GBP maintains […]
Tag: BOE
UK: Inflation will be here “for years” – Andy Haldane
The former Chief Economist of the Bank of England (BoE), andy haldanewarned on Monday in an interview on LBC that inflation could go even beyond the projected 10% and could persist for years. Additional comments “Things have exceeded my worst expectations“. “I think it’s certainly going to last all year, and into next year or […]
GBP/USD lowers but remains around 1.2350 after upbeat US NFP report.
GBP/USD will end the week with heavy losses of 1.74%. Positive US jobs numbers and BoE speeches keep sterling under pressure. GBP/USD Price Forecast: Remain biased to the downside unless GBP bulls retake 1.2600. Sterling appears to be regaining its composure but continues to lose on the day, down 0.06%, after the Bank of England […]
EUR/GBP rises to its highest level since December, approaches 0.8600
The pound remains under pressure, still hit by the BoE meeting. The euro among the best on Friday. EUR/GBP posting a weekly gain of almost 200 pips, the best in months. The EUR/GBP rose further on Friday and rose to 0.8590, reaching the highest intraday level since December. It then fell back to 0.8565. In […]
Rate Guide Opponents Think Enough Has Been Done – Huw Pill
The Chief Economist of Bank of England, Huw Pill, said on Friday that two members of the Monetary Policy Committee (MPC) have not signed off on the new guidance on interest rates because they have felt enough has been done, Reuters reported. The statement published on Thursday suggested that rates could continue to rise to […]
Jump to new 2022 highs, downtrend line break in play
EUR/GBP achieves strong continuation traction on Friday and hits a new yearly high. The acceptance above the 200 SMA and the breakout of the descending trend line favors the bulls. The cross looks ready to reclaim the 0.8600 level and continue to climb higher. The EUR/GBP cross has built on the previous day’s strong Bank […]
‘Sell the bounce’ as bear flag remains in play
GBP/USD is still “selling the bounce” after hitting 22-month lows. Risk aversion and BoE recession projections keep any rebound in GBP/USD limited. Confirmation of a bearish flag on the 4-hour chart points to more GBP/GBP pain. GBP/USD is bouncing back above 1.2300, quickly recovering from fresh 22-month lows hit at 1.2276 in the last hour. […]
We face double-sided risks in the economic outlook – Huw Pill
In a CNBC interview on Friday, the Chief Economist of the Bank of England (BoE), Huw Pillhe said: “The key message we hoped to convey yesterday is that we face double-sided risks to the economic outlook.” Featured Statements Inflation rising to 10% and then falling is due to international energy and goods prices being major […]
Decision on active sales of government bonds not yet made
The Governor of the Bank of England, Andrew Bailey, told the press conference after the Bank of England meeting that no decision has yet been made on whether or not an active sale of UK government bonds will take placeas reported by Reuters. Additional comments The labor market is very tight. The question continues on […]
Global inflationary pressures have intensified since Russian invasion of Ukraine
In his usual post-meeting press conference, Bank of England Governor Andrew Bailey said that global inflationary pressures have intensified since the Russian invasion of Ukraineas reported by Reuters. Additional comments The invasion of Ukraine has led to a material deterioration in the outlook for global growth. Monetary policy must navigate the narrow path between an […]
