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BoE rate hike could be delayed until after UK general election - Phil McHugh

FXStreet (Łódź) - Phil McHugh doesn't expect any changes to the BoE monetary policy in October and believes that if inflation and wage data continues disappointing, the first rate hike could be pushed back to after the UK general election in May 2015.

Key quotes

"Although Mark Carney has warned of higher rates it is too early for the BoE to act."

"With inflation slowing and wage growth stuck at an all-time low the pressure is off for now."

"If inflation remains subdued and wage growth flat I would not expect to see the Bank move on interest rates even if we see strong economic growth persisting – this could push a rate rise back to after the general election next year."

GBP/USD steady below 1.6100 - FXStreet

FXStreet Chief Analyst Valeria Bednarik remarks that GBP/USD is trading below the 1.6100, close to the 23.6% retracement of its latest bearish streak.
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