Thursday (23rd) in early trading in Asia, GBP/USD trading at 1.6036, extended the previous session's decline, and hit a near three-month low of 1.6016. Overnight in Europe and United Kingdom interest rates of central banks and the Central Bank announced a separate resolution and remarks by the Central Bank official, respectively, making short power unprecedented strong Sterling, sterling was a heavy crackdown.
United Kingdom Bank (BOE) on Wednesday (22nd) June 8-minutes, MPC 7:2 through interest rates remain unchanged, only Weir (Spencer Dale) and Dell (Martin Weale) continue to demand higher interest rates 25 points while MPC scale invariant to 8:1 through the maintenance of quantitative easing, David berson still proposed expanding the scale of quantitative easing to 250 billion pounds.
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beauty data poor dragged down beauty means Greece or reached Rescue Agreement QE3 hopes stimulation dollars higher Greece crunch programme not optimistic euro bearing pressure in the Russia signed bilateral currency settlement agreement EU Summit primary issues resolve Greece crisis Tan Yaling: dollars status complex stagflation constraints fed wait deciphered fuck disc password master main trends worth concern of is , Member of the new MPC Broadbent (Ben Broadbent) agreed with the majority opinion as expected, did not follow the MPC member before sentansi (Andrew Sentance) urged to raise interest rates. The minutes, Broadbent requirements to maintain interest rates unchanged. Hard-liners sumdex's departure, fears United Kingdom's Central Bank's monetary stance will become more moderate.
Central Bank meeting minutes also show that MPC members have said, little sign of the CPI to rise will affect the salaries, weak domestic demand or beyond the previously expected, more than one Member said the need to expand the scale of quantitative easing, some members considered that if the downside risk of inflation to become a reality, may be a need for more quantitative easing.
banks and noted that the rise in the medium-term inflation risks in the past month, and the upside risk stability. United Kingdom Bank of pessimism towards the Economic Outlook. The Central Bank said, the current weakness of domestic demand may exceed the previously expected, and the United Kingdom or similar to the 1 quarter 2 quarter economic performance.
poor economic data showing United Kingdom economy remains weak, making United Kingdom banks still taking quantitative easing monetary policy to promote quick recovery of the economy.
United Kingdom national statistical offices (Thursday data displayed on The Office for National Statistics, United Kingdom in May retail sales month of the quarter adjusted rate dropped 1.4%, biggest drop since January 2010, expected to fall 0.6% value before 1.1%.
United Kingdom national statistical offices on Wednesday according to the United Kingdom May unemployment rate was 4.6%, United Kingdom May applications for increase in the number of unemployed 19,600 people, United Kingdom since July 09 high number of applications for unemployment.
Central Bank noted that weak economic growth prospects, latest data show that 2011 mid-term GDP growth may be lower than the historical mean. Central Bank of the future United Kingdom expectations of economic recovery are starting to change, weak economic performance will be significantly suppressed United Kingdom expected Central Bank tightening.
the minutes also show that increased downward risk to inflation in May. Few signs of limits is shifting to pay higher inflation. Second-quarter GDP may be similar to the first quarter. Weak demand duration may be longer than expected.
in the United Kingdom's Central Bank announced after the meeting minutes the pound suffered a first round of the crackdown. And yesterday into the United States after a period, resolution published by the Federal Reserve interest rate, and Federal Reserve Chairman Ben Bernanke's remarks, makes pounds once again subjected to suppress frustration.
interest rate after the resolution on Wednesday, the Fed announced benchmark interest rate in 0-0.25% does not change, and to maintain the discount rate unchanged in 0.75%, while reaffirming for quite a long time kept the benchmark interest rate at very low levels, and for the second round of 600 billion of quantitative easing bond purchase plan will be completed this month.
Ben Bernanke said the pace of economic recovery is still very modest, temporarily unable to find the exact reasons why SI would cause economic recovery continued to be slow, and the real estate market remains sluggish, the decline in the unemployment rate may be painful abnormally slow.
for the statement he made was again caused the market to the United States and fears of a global economic recovery, market risk sentiment serious pressure, dollar stronger overall. End page to join the body
