The British public's expectations of inflation have fallen slightly, a Bank of England survey released Friday showed. The median expectation for next year fell to 3.5% from 3.6% in August, according to the quarterly survey. Regarding inflation in five years' time, expectations fell to 3.7% from 3.8%. This is still well above the Bank of England's target of 2.0%.

Despite the fact that the public is a poor predictor of inflation, this survey is closely monitored by the Regulator to identify inflation expectations that influence consumer behavior. On the background of the news, GBP/USD quotes are declining - the pound has come under pressure. The area that was previously resistance (1.3300-1.3350) can now provoke buying and act as a local support.