Ok, here comes the biggest non-event of the week at the top of the hour as the Bank of England will announce it’s keeping interest rates on hold at 0.5% and asset purchase facility at GBP 375bln
Both they and the markets are now resigned to no rate hikes until later in 2015 at the earliest with some now talking Q1 2016, and I have long argued that the later the better for this fragile UK economy
The MPC has much to discuss however and the meeting will no doubt be one that we will be keen to see the Minutes of in due course
GBPUSD currently 1.5060 having run into the demand toward 1.5000 that I mentioned earlier. Offers into 1.5085-1.5100.
BOE- The Old Lady of Threadneedle Street
