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BoE Forbes said rate hike could happen sooner than expected

Monday, Jan 26 2015
Bank of England Kristen Forbes in a Wall Street Journal interview said she is optimistic about the global economy’s prospects given robust growth in the U.S. and the potential for cheap oil to boost consumption and investment in the U.K. and elsewhere.
 
In her opinion that could trigger the need for interest rate increases in the U.K. from their current historic lows of 0.5% sooner than market expectations of the middle of next year. “I wouldn’t be surprised if inflation falls more sharply in the short term, but then as growth picks up, the growth effects boost inflation more in the medium term,” she said.
 
Sterling is currently being traded few points above 1.50 handle. Pair is likely to find support around 1.4950 and resistance above 1.5050 area. 
Last modified on Monday, 26 January 2015
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