US ($) Currency Thread 1 (closed - use thread 2)

inspector_monkfish

LONDON --The Bank of England Thursday became the first European
central bank to implement quantitative easing policy, as it announced it would buy up to GBP75 billion mostly in medium and long-term gilts over the next three
months. At its regular meeting, the BOE's Monetary Policy Committee also cut its key
interest rate by 50 basis points to 0.5%.

In a statement accompanying the decision, the MPC said that the gloomy
outlook for consumer spending and business investment made radical action
necessary to prevent inflation dropping sharply below its 2% target medium term.

The MPC has projected the U.K. economy to contract by around 4% at its trough in the middle of this year, but pick up fairly rapidly from that point and return
to trend expansion of around 3% in the second half of 2010.

Of 13 economists polled by Dow Jones Newswires last week, 11 had tipped the MPC to start lifting the money supply through the purchase of public and private sector securities this month.

Most also thought the bank would cut rates by 50 basis points, with 17 of the 18 economists questioned predicting the key rate would fall to 0.5% in March, and only one expecting no change.

inspector_monkfish

jackieblack wrote: »

But why? Surely this (the rate cut) was expected?

its just the usual volatility u get when a rate decision is announced.

its not just about the rate.
there are comments that are released with it, and the markets like to digest all the info before they go off chucking cable around willy nilly !!

jonathanrichardson69

neilbond007 wrote: »

i just use this webpage

http://www.dailyfx.com/

***WARNING*** It's hypnotic... but not as hypnotic as gina g's thighs from yesterday... but that's another story

your right about hypnotic, i've gone all dizzy, but its clever how you can play around with the graphs etc.:T

inspector_monkfish

ECB cut rates by 0.50 to 1.50pct

inspector_monkfish

cable creeping slowly back up to 1.4095

(pssst.. don't let jackie see it)

jackieblack

inspector_monkfish wrote: »

cable creeping slowly back up to 1.4095

(pssst.. don't let jackie see it)

Don't worry, I'm not looking! Can't see a thing!

jonathanrichardson69

jackie, did you start peaking because its just started its nose dive again?

jackieblack

I just peeked! It was 1.41 !

neilbond007

well it all seems to have settled down again... don't know how anyone else is feeling.. but this is where i stand...

http://www.youtube.com/watch?v=Yq7FKO5DlV0

haziec

I'm back !! Perhaps it will go up then LOL
Thats if I can escape jail for murdering my HB for suggesting we wait as "it will go up after Obama gets in"...... after I bought only £100 at 1.81 when we booked our holiday. grrrrrrrrrrrrrrrrr.............