Bank of England minutes – Votes unchanged regarding rate hike… pushed back once again?
by Daniel Wright on Mar.23, 2011, under Economic data, Predictions, Sterling weakness
The bank of England have just released the minutes from their last meeting and indeed there has been no change in the voting regarding an interest rate hike.
Some investors may have speculated that potentially one more member of the BOE may have voted in favour therefore the fact that they didn’t has led to weakness straight after the release.
This does now essentially push the probability of a rate hike in the U.K further back and for those of you that are not aware a hike in interest rates generally leads to strength for the currency concerned as it then becomes more attractive to investors.
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March 26th, 2011 on 7:08 am
I’m in the process of arranging migration to Australia and have been monotoring performance of GBP v AUD.
It had been climbing steadily since Xmas & reached 1.65 on 17th March. To my horror however, it has slumped in just over a week back to 1.56 (almost back to Xmas levels) which is worrying when transferring UK assets. Is this a blip & will Sterling start rising again?