GBP traded weak and low volatility before UK Interest Rate Decision at 12.00 GMT.

After the strong recovery of the GBP against the USD, currently trading weak pound and low volatility. The market expects UK Interest Rate Decision at 12.00 GMT without interest. The basic rate will almost certainly remain 0.5%. More interesting will be the number of votes. 8 is expected to be at the same level. sentiment is that the change in interest rates will be delayed, despite steady growth. Positive coming from the service sector and rising consumer spending is not sufficient because the commercial and industrial sectors are in a weak position and caused no adjustment to the expected growth of GDP in 2015 from 2.6% to 2.4%.

The main thesis until recently was that the BoE will wait for the Fed, but it is now apparent that the low rate is likely to continue much longer. Forecasts currently fluctuate between Q2 and Q3, and BCC indicate the high probability of August 2016.Edin clear sign of the Bank will smooth all interest concerns against the GBP at least until the end of the year. Movements in GBP/USD so far between short-term resistance level of 1.5211 and support level 1.5090.