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Wednesday, 16 December 2015
News

Fed rose interest rates to 0.5%

According to the Fed statement the Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise, over the medium term, to its 2 percent objective. Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent. The stance of monetary policy remains accommodative after this increase, thereby supporting further improvement in labor market conditions and a return to 2 percent inflation.

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Monday, 14 December 2015
News

Sterling lower at the beginning of European part of the session

There are no major data releases from the UK today. Sterling fell overnight as traders are still weighing on recent BoE stanzas, as well as anticipating UK CPI and job figures, but with the focus on Fed's interest rate decision. Last week members of the Bank’s nine-member monetary policy committee (MPC) voted eight to one to leave rates at 0.5%, where they have been since March 2009, in a repeat of voting numbers seen in recent months. Sticking to his recent stance, only Ian McCafferty voted for a rise to 0.75%.
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Thursday, 10 December 2015
News

BoE keeps interest rates unchanged

The Bank of England's rate-setters focused on a renewed fall in global oil prices and slower wage growth at home as they voted 8-1 again to keep interest rates at their record low of 0.5 percent. The minutes of the Bank's latest policy meeting showed it was in no hurry to match an expected rate hike by the U.S. Federal Reserve next week as there was "no mechanical link" between the Bank's thinking and that of other central banks.
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Monday, 07 December 2015
News

Sterling lower in a quiet Monday trade

There were no major data releases from the UK today, with Sterling declining a bit, after last week's recovery due to ECB stanzas. A number of major banks forecast sharp falls for sterling over the next year in their 2016 outlooks this week, Morgan Stanley predicting a fall to $1.40 in a year's time and Deutsche Bank sticking with an earlier forecast of $1.27 for 2016. 

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