British Pound remains down ahead of Carney speech

British Pound remains down ahead of Carney speech

Mar 11th 2015

GBP/USD declined below $1.5050 during today trading session, after the decrease of U.K industrial and manufacturing production. And the British Pound remains down ahead of Mark Carney speech due on Thursday Mar 12th 2015.
In fact, BOE governor has claimed that the decrease of inflation rates during the month of January was due to the sharp fall of oil and energy prices. Accordingly the inflation rates remained low and the interest rates remained unchanged at its record low of 0.5 %.

 On the other hand, the investors are looking for clues on when the BoE will start raising its benchmark interest rates and when the bank may leave the borrowing costs. So any positive comments form Mr. Carney wound push the Sterling pound to recover again.

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