All eyes on the Bank of England minutes at 09:30am this morning… what was the split on QE? Any more in favour of a rate hike? Sterling forecast for 17th November

Following on from the previous post comments from the Irish PM didn’t have a major effect on the markets – He insisted that Ireland do not need to be bailed out, however we heard a similar thing from Greece not long before they were actually bailed out so watch this space, personally as I have been saying for a while i beleive it is only a matter of time before the euro Zone has major problems on its hands and the Euro suffers off of the back of this.

This morning we have the Bank of England minutes due at 09:30am which could lead to major Sterling movements – Should the votye on QE at the last interest rate decision meetin have been tight then one would expect Sterling to lose ground as it suggests potential QE in the near future, the opposite and we may see strength… my forecast is that we will see strength for once off of the back of the latest interest rate decision as I cannot see any QE happening for December and due to the fact our GDP (Gross Domestic Product) figures came out much more positive than expected I would imagine QE may be put to one side for the time being.

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