Archive for September, 2011
Risk Aversion
Markets have responded negatively following the Fed’s gloomy outlook for the US economy and announcement to launch limited measures designated to boost growth known as Operation Twist. Operation Twist does not inject any new money into the economy but the Fed will sell USD 400bn of short term bonds and buy USD 400bn longer term [...]
Bank of England Minutes
Posted in Currency News Currency Updates by mporter
The Pound has weakened this morning following the release of minutes from September’s Monetary Policy Committee (MPC) meeting.
All nine members of the MPC voted to keep interest rates on hold at 0.5% as widely expected. Adam Posen was the only member to continue to call for a further expansion of the Bank’s Quantitative Easing (QE) [...]
BoE and ECB
Posted in Currency News Currency Updates by mporter
The Pound has appreciated against the Euro following today’s Bank of England and European Central Bank (ECB) interest rate announcements. Both Banks kept their interest rates on hold at 0.50% and 1.50% respectively.
However, in the following ECB press conference, ECB president Jean-Claude Trichet struck a more cautious tone, warning that the Euro-zone economy will grow [...]
Swiss National Bank sets minimum exchange rate at CHF 1.20 per Euro
The Swiss National Bank (SNB) has intervened in the market this morning announcing that they will set a floor to the value of the Swiss Franc (CHF) against the Euro at EURCHF 1.20.
SNB Statement
‘The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a [...]
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