Currencies  |  February 13, 2013 11:15:00

Libra by word central bank head falls down The central bank of the United Kingdom (BoE) today published its inflation report. According to the report, the rate of inflation is at its target level (2 percent) less than in 2016. BoE also announced that it is ready to increase the volume of buying bonds from L 375 billion to kick-start a frozen economy. Monetary tightening at this stage due to high inflation in the words of Mervyn King could significantly cripple the British economy.

BoE justifies high inflation (2.7 percent) weakening British pound and the price increases. The Bank focuses its monetary policy to tame inflation. Great expectations are inserted into the new BoE Governor Mark Carney, who should fight inflation accelerated.

Inflation remains above 2 percent since December 2009 and was the reason for the earlier increase in the amount allocated for the purchase of bonds. Economists expect today's deteriorating outlook, especially after the pound for the last three months against the U.S. dollar depreciated by 3 percent. Outlook for economic growth since the last report in October also deteriorated, and by 2015 it is expected annual growth of 1.9 percent. Economists, for example, from this year promise to grow by only 1 percent. The highest inflation should come in the third quarter of 2013, up 3.2 percent.

Currency pair GBP / USD has managed to break through the lower end of the declining channel and headed toward 7měsíčním price lows around 1.5486. Sales began reflection from Fibonacci levels 38.2 and soon the trend should remain bearish.

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Libra po slovech šéfa centrální banky padá dolů

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