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Forex pairs in this Article » GBP/USD (Barcelona) - Research teams at Nomura noted that when releasing the Inflation Report on August 7, the Bank of England announced that the details of its forward guidance.

Key Quotes:

"...stating that the MPC intends not to raise Bank Rate from its current level of 0.5% at least until the Labour Force Survey headline measure of the unemployment rate has fallen to a threshold of 7%’, subject to three knockout conditions".

"The three conditions are:

1. In the MPC’s view, it is more likely than not, that CPI inflation 18 to 24 months ahead will be 0.5 percentage points or more above the 2% target;

2. Medium-term inflation expectations no longer remain sufficiently well anchored;

3. The Financial Policy Committee (FPC) judges that the stance of monetary policy poses a significant threat to financial stability that cannot be contained by the substantial range of mitigating policy actions available to the FPC, the Financial Conduct Authority and the Prudential Regulation Authority in a way consistent with their
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