Alex von Stachelkopf
The Bank of England has recently made public the results of the recent survey on inflation expectations. It is interesting to note that the inflation pessimism among the folks reached. The lowest level in 16 years in February 2016. It should also be noted that the central bank conducts such surveys once a quarter, Market Leader reports.
Meanwhile, the survey results published by the Bank of England contains the forecast that the rate of inflation in Great Britain is going to drop all the way down to 1.8% from November’s 2.0% forecast. We remind you that the current inflation expectations correspond to the lowest level since 1999.
When it comes to the inflation expectations for the next 2 years, the figures dropped down from 2.3% down to 2.1% as of February 2016. The 5-year forecast remained unchanged at 2.9%.
FOREX
Masterforex-V Academy reports that the British Pound has completed the 5-wave bearish pattern and is now trading around 1.4306. The closest levels of resistance are located at MF pivot 1.4664 and the top of the descending MF sloping channel. The closest level of support is 1.3835.
Alex von Stachelkopf
