According to Spencer Dale, Executive Director and Chief Economist of the Bank of England, the British economy is currently showing faint growth. He also expects the annual rate of inflation to exceed the limit and to go back to it only in 2014.
Nevertheless, the Bank of England will keep implementing its QE plan. Mr. Dale confirmed this intension even though he was among the 8 MPC members who voted against further QE during the latest meeting.
Some other MPC members are concerned about inflation growth, which may have a negative impact on the national economy.
Forex.
According to , the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is finished forming wave А(С)/С.
A further rally will probably encounter resistance around 1.6050. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.5926 (as shown below).
