Forex Flash: Upward revision in BoE inflation outlook expected – TD Securities

TD Securities analysts expect to see another upward revision to the Bank’s inflation forecasts at 10:30 GMT, as the Bank of England’s Quarterly Inflation Report is released.

“Last week’s BoE statement was more detailed that usual, and noted that, “CPI inflation is likely to rise further in the near term and may remain above the 2% target for the next two years… [but] is expected to fall back to around the target thereafter”, wrote analyst Alvin Pontoh, adding that the BoE described “a slow but sustained recovery” for the growth outlook. “In the press conference, we’ll be watching to see if Governor King has anything to say about Governor-Designate Carney’s view of the world and monetary policy, after Carney’s testimony last week”, Pontoh added.