Pound awaits the Inflation Report Hearings
FXBAZOOKA.com - GBP/USD awaits the BOE Inflation Report Hearings that follow the August quarterly Inflation Report. Testimony that starts at 13:45 GMT will likely provide us with more details about the BOE monetary policy intentions.
Governor Mark Carney will be accompanied by Deputy Governor Nemat Shafik and MPC committee members Martin Weale and David Mile. Yesterday Mr. Carney spoke in favor of a rate hike in Spring 2015. However, Mr. Weale was one of the 2 BOE members who voted in favor of an immediate rate increase in August.
We'll try to assess the aggregate BOE sentiment. Hawkish tone will give GBP/USD a fundamental reason to extend the bullish correction.