BoE survey: lower inflation, but GBP/CHF downside risk.

The most recent survey from the Bank of England's Monthly Decision Maker Panel (DMP) was published on Thursday. The survey showed that DMP members anticipate that the Consumer Price Index (CPI) inflation will be 5.8% one year from now, which is a slight decrease from the 5.9% forecasted in February.

The DMP is a group of decision-makers from various businesses that provides insights into economic conditions and helps inform the Bank of England's policy decisions. The survey results reflect the expectations of these influential individuals, who anticipate a small reduction in inflation over the next twelve months.

The Bank of England closely monitors inflation as it is a key indicator of economic stability. Inflation can impact the value of money, interest rates, and consumer spending. The central bank's monetary policy decisions are heavily influenced by inflation expectations.

In summary, the latest Bank of England DMP survey indicates a slight reduction in CPI inflation expectations for the upcoming year. This information will be considered by the Bank of England as it makes monetary policy decisions in the coming months.

However, in the GBP/CHF currency pair, there is evidence of a Double Top pattern forming, and if the Neckline of the pattern is breached, the price may decrease. This development suggests that caution is still warranted, despite the positive inflation news for the GBP.