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Beecroft: UK inflation at lowest level for two decades

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The Bank of England has cut its inflation forecast for 2015 to 0.5% down from 1.4% but officials say the bank will hit its 2% target by 2017. There wasn't any sense of panic about inflation being at its lowest level for two decades and certainly no sense of an imminent rate change.   

Bank of England Governor Mark Carney seemed relaxed about the possibility of a rate cut to below 0.5%. Sterling rallied initially but that faded as the market took in the fact that easing tactics remain on the bank's table. 

Chairman of Saxo Capital Markets Nick Beecroft give us his analysis of the bank's quarterly inflation report and what it means for Sterling trading.