The Bank of England quarterly inflation report will have a major impact on the British Pound as market participants weigh the outlook for monetary policy, and the fresh batch of central bank rhetoric may threaten the range-bounce price action in the GBPUSD as the Monetary Policy Committee keeps the door open to expand the balance sheet further. According to a survey by Bloomberg News survey, an overwhelming majority of the 16 economists polled see the BoE lowering its forecast for growth and inflation and the central bank may turn increasingly cautious towards the economy as the region faces a deepening recession. In ... (full story)