Today the pound is having a bad day

21.01.2015
On Wednesday the GBP/USD pair has reduced in the course of trading after the publication of the too "pigeon" minutes of the meeting of the Bank of England. 
 
Today the British Pound was left alone with a harsh reality. After the publication of minutes of the last meeting of the Bank of England, it became clear that this year the chances of growth of the interest rate are minimal, for now the monetary policy will not be reviewed, while the strong model of action of the BoE does not have any more supporters. 
 
Without exception, all members of the Committee as part of the Bank of England voted to retain the current course of monetary policy. The number of "hawks" thus fell to zero - just a month ago there were two. The past "hawks" - Will and McCafferty - joined the consensus that early growth rates could contribute to the preservation period of low inflation. 
 
According to the minutes, the prospects regarding rates for the next 12-18 months are more than vague. All the more weight gain inflation reports - the average expectations indicate that inflation will be zero by March. The probability of falling prices during the first half of 2015 is estimated as 50/50. 
 
In general, in the UK everything is hazy as ever. In the future, we will carefully monitor, perhaps, the inflationary UK accounts and track their components - it will be interesting. 
 
For the GBP/USD pair nearest support is at the mark of 1.5025. 

RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.