Pound's Rally Stalls as BOE Can't Rule Out the Possibility of Expanding the Asset Pur

[Forex-Outlook]

Pound reverses early gains after BOE Governor Mervyn King delivered dovish comments at a press conference following release of the quarterly inflation report. Similar to February's outlook, policymakers forecast GDP growth will reach +3.5% by 2010 while inflation will stay below 2% target. The forecasts are based on the interest rate staying close to its record low of 0.5% this year and reaching 1.7% by the end of 2011.

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