GBPUSD – Flat
GBPUSD trading plan:
The Bank of England raised interest rates for the 11th time in a row, but said a surprise resurgence in inflation would probably fade fast, prompting speculation it had ended its run of hikes. Sounding more upbeat about the outlook for Britain’s sluggish economy but noting the risks posed by turmoil among global banks, the BoE’s nine rate-setters voted 7-2 in favour of a 25 basis-point increase in Bank Rate to 4.25%. Investors priced in one more quarter-point rate hike, probably at the BoE’s next meeting on May 11. BoE Governor Andrew Bailey was non-committal when asked about the latest rate rise. „We don’t know whether it’s going to be the peak,“ he told.
Investment idea: range 1.2200 – 1.2320.
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