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Wednesday, May 18, 2011

United Kingdom's Central Bank May meeting minutes, maintaining a low rate unchanged weak GBP USD

Wednesday (18th) New York foreign exchange markets, weak GBP/USD. United Kingdom's Central Bank May 4-the minutes of the monetary resolution, United Kingdom's monetary policy Committee (MPC) 6:3 0.5% interest rate does not change. Recent CPI prospect worse than February; few signs of inflation expectations continue to rise; assume that bank interest rates followed the rising market yields CPI may decline over the medium term; if real estate spending weakened, slower pace of contraction is appropriate.

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United Kingdom Central Bank (BOE) Wednesday (18th) announced May 4-5th currency resolution of meeting summary of. The minutes, United Kingdom's monetary policy Committee (MPC) 6:3 0.5% interest rate does not change.

on inflation, also shows the minutes, the recent CPI prospect worse than February; few signs of inflation expectations continue to rise; assume that bank interest rates followed the rising market yields CPI may decline over the medium term; if real estate spending weakened, slower pace of contraction is appropriate.

also shows the minutes a month to risks of inflation variability was not sufficient to spur the MPC to change perspective; three MPC members have advocated expected to raise rates because of data uncertainty continued that he had continued to wait for no benefit.

Wednesday (18th) New York, GBP/USD narrow shocks of the early period, slightly higher at midday time period, to continue after midday decline of slightly low consolidate.

from a technical point of view, date line short-term averages MA10 and interim averages MA60 death fork, MA21,MA30 turn down first, Brin with rail route down open resistance 1.6280,1.6336; support 1.6129,1.5957.

4:31 ', GBP/USD 1.6162/64.