Displaying items by tag: interest rates

Monday, 10 August 2015

News

Sterling little changed in a quite Monday trade

There were no data releases from the UK this morning so Sterling was little changed after last week's decline below 1.55 handle. Last Thursday the Bank of England had little to say as investors were taken by surprise earlier when the bank said only one of its nine policymakers had voted for a rate rise at their August meeting. Most economists had expected two or even three members of the monetary policy committee to vote for a rise. The surprise 8-1 result prompted markets to push out their bets on a first rate increase. Read more...

Thursday, 06 August 2015

News

Sterling sharply down after BoE Meeting Minutes

At its meeting ending on 5 August 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%. Two votes for rate hike were expected. The Committee voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion, and so to reinvest the £16.9 billion of cash flows associated with the redemption of the September 2015 gilt held in the Asset Purchase Facility.

Lockhart said September could be appropriate for liftoff

Dennis Lockhart, the president of the Atlanta Fed, on Tuesday said he supports a rate hike at the U.S. central bank's next policy meeting in September. In an interview with the Wall Street Journal, Lockhart said it would take major weakness in the data to convince him not to move. "I think there is a high bar right now to not acting, speaking for myself," Lockhart said.

RBA kept interest rates unchanged

Australia left its key interest rate unchanged Tuesday as a weaker currency aids local firms and soaring Sydney home prices argue against additional stimulus.Central bank Governor Glenn Stevens and his board kept the cash rate at a record-low 2 percent, as predicted by markets and economists following reductions in May and February. “The Australian dollar is adjusting to the significant declines in key commodity prices,” the Reserve Bank of Australia said in a statement.

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Sterling little changed in a quite Monday trade

Sterling sharply down after BoE Meeting Minutes