Flash: BoE inflation report next week - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the price action in cable post BoE. Noting the key information will come next week.

Key Quotes:

"As expected the BoE left its policy rate and its asset purchase program unchanged at 0.5% and £375bn,respectively."

"The key upcoming release will be the Inflation Report on February 12th, which will provide on update on the inflation outlook but also how the BoE is approaching forward guidance. Recently, Governor Carney suggested that the market pricing of an Q115 interest rate hike is appropriate; which leaves GBP likely to outperform EUR this year and with only moderate underperformance of the USD."

"GBP/USD short‐term technicals: bearish."