Pound’s rate on Forex today was between the devil and the blue sea. On one hand outer background allowed to continue trend’s increasing for fifth session in a row, and that was what had happened in the morning. But in the middle of the day inner factors interrupted the growth.
The Governor of Bank of England – Mr. Mervyn King – said on Wednesday that Britain has a long way to go before it gets to the level of 2008. Having a speech in front of parliament, Mr. King has mentioned that he was glad to get a signal about the stable improvement of economical prognosis, but according to his words it will take lots of time.
King is opposed to Mr. Sentance, who thinks that interest rate level should be raised now, until current inflation situation allows doing so. It should be noted that in June inflation in GB slowed down to 3,2% per annum against May’s meaning of 3,4% per annum. Inflation crossed the 3% threshold in February 2010.
Interest rate in Britain now is at the level of 0,5% per annum.
Today a forecast for British GDP by NIESR has been published: according to it, expectations for this index grew up to 1,3% from the previous meaning of 1,0%. At the same time prognosis of Bank of England for GDP stays in 3-4% range; according to IMF – at the level of 2,1%.
British Pound’s small decrease should be considered a positive factor: after 4 sessions of non-stop rapid growth GBP needs some roll-back to avoid overheating.
The Governor of Bank of England – Mr. Mervyn King – said on Wednesday that Britain has a long way to go before it gets to the level of 2008. Having a speech in front of parliament, Mr. King has mentioned that he was glad to get a signal about the stable improvement of economical prognosis, but according to his words it will take lots of time.
King is opposed to Mr. Sentance, who thinks that interest rate level should be raised now, until current inflation situation allows doing so. It should be noted that in June inflation in GB slowed down to 3,2% per annum against May’s meaning of 3,4% per annum. Inflation crossed the 3% threshold in February 2010.
Interest rate in Britain now is at the level of 0,5% per annum.
Today a forecast for British GDP by NIESR has been published: according to it, expectations for this index grew up to 1,3% from the previous meaning of 1,0%. At the same time prognosis of Bank of England for GDP stays in 3-4% range; according to IMF – at the level of 2,1%.
British Pound’s small decrease should be considered a positive factor: after 4 sessions of non-stop rapid growth GBP needs some roll-back to avoid overheating.
0 comments:
Post a Comment