Posts Tagged ‘monetary policy’
BoE & ECB
Posted in Currency News Currency Updates by mporter
The Bank of England and the European Central Bank have both left their monetary policies unchanged today at 0.50% and 1.50% respectively as growth slows and the European debt crisis spreads to Italy and Spain.
The Pound is up against the Euro trading between 1.14 – 1.15 and in the region of 1.63 against the US [...]
The Pound has remained stable …
Posted in Currency News Currency Updates by mporter
The Pound has remained stable following the release of July’s Bank of England Monetary Policy Committee (MPC) minutes, trading at 1.13 against the Euro and at 1.61 against the US Dollar on the interbank market.
The minutes showed that the MPC remains split, with 7 members voting to keep interest rates unchanged at 0.50% whilst 2 [...]
Sterling falls following dovish Bank of England
Posted in Currency News Currency Updates by mporter
The Pound has depreciated this morning (22/06/11) following the release of the latest minutes from the Bank of England Monetary Policy Committee (MPC). The minutes indicated that the Bank of England is less likely to raise interest rates this year, which makes Sterling less attractive to investors seeking higher yielding currencies*.
The minutes show that out [...]
Interest Rates
Posted in Currency News Currency Updates by mporter
Today (07/04/11) as expected the European Central Bank (ECB) has raised its benchmark interest rate by 0.25% to 1.25%, the first such increase since July 2008. The Bank of England has kept interest rates on hold for the 25th month at their historic low of 0.5% and the Bank’s Quantitative Easing Asset Purchase Programme remains [...]
Stronger than expected UK PMI Services data
Posted in Currency News Currency Updates by mporter
Sterling has spiked higher today (05/04/11) following the release of stronger than expected Purchasing Manager Index (PMI) Services data. The PMI Services data is an indicator of the economic situation in the UK service sector. The reading of 57.1 was better than the expected reading of 52.5 and better than the previous reading of 52.6. [...]
Currency Matters
Posted in Currency News Currency Updates by mporter
The Pound has fallen today 23/03 following the release of minutes from the Bank of England showing that no further Monetary Policy Committee (MPC) members shifted to the rate hike camp at the March meeting of the MPC. Despite the higher than expected inflation reading released yesterday, there is still some uncertainty surrounding how quickly the [...]
UK GDP DISAPPOINTS
Posted in Currency News Currency Updates by mporter
The Pound has reacted negatively this morning to the revised UK GDP figures. Many analysts were hopeful that the disappointing UK GDP data numbers released at the end of January would be revised higher. However, the new data showed that the UK economy contracted by -0.6% in the final quarter of 2010 compared to the [...]
Bank of England
Posted in Currency News Currency Updates by mporter
Sterling has appreciated modestly this morning following the release of February’s Monetary Policy Committee (MPC) minutes by the Bank of England showing that interest rates were kept on hold by a 6-3 vote.
Bank of England chief economist Spencer Dale joined Andrew Sentance and Martin Weale in backing a rise in interest rates. Dale and Weale [...]
Currency Update – UK GDP
Posted in Currency News Currency Updates by mporter
Sterling has tumbled this morning following the release of UK GDP figures which were much worse than analysts had expected. The shock numbers showed that the UK economy shrank by 0.5% over the last 3 months of 2010. The severe weather seen in December dramatically hit GDP, particularly in the construction and service sectors. However, [...]
Currency Matters
Posted in Currency News Currency Updates by mporter
The US Dollar has continued to fall following Tuesday’s meeting of the Federal Reserve. At the meeting the Federal Reserve kept interest rates on hold at 0.00-0.25% and kept quantitative easing at current levels. However, the Federal Reserve opened the door to the possibility of additional quantitative easing indicating that it would be prepared to [...]
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