27.05.2014 - The Bank of England may raise rates sooner than it was expected
Statement by the deputy of the head of Bank of England, Charles Bean has led to growth of quotations of the national currency of the Great Britain. Thus, Mr. Bean noted that interest rates may be increased before the spring 2015. He noted that the Bank will act in accordance with the economic situation in the country. Until that moment as rates will rise to 3% will pass from 3 to 5 years, but the rate will not exceed the 5%, which is an average of 10 years before the crisis.
It is worth noting that the UK economy shows steady growth and the Bank of England has all grounds to tighten monetary policy in the country. We keep medium and long term positive outlook for the pound with targets at 1.69 and 1.70.
Wish you the profits!
FXFINPRO Capital Analytical department.