The Bank of England’s recent activity is facing more criticism. More experts condemn the bank’s plans aimed at easing the monetary policy and toughening the reserve requirements for British banks.
According to Paul Fisher, Executive Director Markets and member of the Monetary Policy Committee at the Bank of England, these step do not hinder the economic recovery in Great Britain. These steps are necessary to make the British banking sector more stable and reliable.
According to Spencer Dale, Executive Director and chief economist of the Bank of England, underlines that British bank depositors would find themselves in a much more difficult situation but for these steps (which smoothed the decline of the British economy).
Forex.
According to , the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is forming wave a big-scale upswing represented by wave 3 or C of level Daily3.
A further rally will probably encounter resistance around 1.6300. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.5825 (as shown below).
