Bank of England Haskel: Further increases in bank rates cannot be ruled out

Bank of England Bank of England The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy Read this Term Haskel is on the wire's saying:

• Further increases in the bank rate cannot be ruled out.
• He prefers to lean against the risks of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term momentum.
• Despite current difficult circumstances, embedded inflation would be worse.
• While some indicators suggest the labor market is loosening, he views it as still very tight in an absolute sense.
• Data shows little evidence of UK inflation being disproportionated due to firms raising prices

Meanwhile, the GBPUSD is extending to new session lows (despite the comments) after breaking below a key swing area between 1.2343 and 1.23603 in trading today (see red number circles on the 4-hour chart below). The next key downside target comes against the rising 100-day moving average currently at 1.22848. The price low just reach 1.23132.

In the video below from earlier today, I outlined that area and spoke to the 1.2360 level as a level that should attract sellers. That level did hold in the US session and the downside was restarted. Sellers who leaned against the 1.2360 level are benefiting from the decline.