Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TobagoJack who wrote (8221)	6/23/2004 9:55:31 AM
From: mishedlo	Read Replies (2) of 116555

Sterling under pressure after less hawkish-than-expected BoE minutes Wednesday, June 23, 2004 10:14:28 AM LONDON (AFX) - Sterling was under pressure after the minutes of the Bank of England's last rate setting deliberations came in a little less hawkish than market expectations At 10.48 am, sterling fell to 1.8159 usd from 1.8208 before the news. While the vote for a quarter point rate hike on June 10 was unanimous, unlike the May deliberations, there was no discussion of a bigger increase, and one unnamed member of the Monetary Policy Committee came close to dissenting The news allayed concerns that the central bank will hike rates in July. "The minutes indicate that the next hike will be in August at the earliest, with the MPC waiting to determine whether the hikes begin to take effect, especially with regard to the housing market," said Mitul Kotecha, global head of forex strategy at Calyon "The minutes will come as a slight relief for short-sterling futures and weigh on the pound," he added.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next