The quarterly survey conducted by the Bank of England (BoE)/ Ipsos showed on Friday that the median UK public's expectations for inflation for the coming year dropped sharply in February.
Median public inflation expectation for coming year 3.9% in Feb vs. 4.8% in Nov.
Median public inflation expectation for 1-2 years 3.0% in Feb vs. 3.4% in Nov.
Median public inflation expectation for 5 years 3.0% in Feb vs. 3.3% in Nov.
The Pound Sterling is hit by the BOE survey findings, as GBP/USD is paring back gains to trade at 1.2135, as of writing. The pair is still up 0.23% on the day.
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