BOE Decision Sends Hints Higher Rates Could be In Store For Future The closely-followed Bank Of England policy decision Thursday saw no change in the Repo Rate of 0.50% as widely expected. Also as forecast, there was a unanimous vote to keep total asset purchases (QE) steady at GBP435bn per month. As for the rate decision, three members voted for an immediate 25bp rate hike. The Previous vote had been 7-2. The new dissenter was Chief Economist Andy Haldane, who dissented for the first time. This marked the first dissenting vote for a hike by a Bank insider since 2011... more...
..."the central bank appears to feel that the economy now is on a path that will support monetary policy normalization. That path should be GBP constructive if it is sustained." claims the central bankeeze babble whisperer.
In the meantime players have now retraced to 61% their initial kneejerk now sitting at 8756 or 50% as the trading collective awaits carney the rockstar turneth clown.
It is interesting that "normalization" is something that is waiting for permission from the economy rather than a hot economy being in need of higher rates from the meddlers to mitigate overheating. It is a subtle nuance but it implies that the meddling crowd is desperate to elevate the interest rate so as to have some room from which to interfere in the next economico-financial disaster. And try to obey BIS' earlier directive.
Mtl JP 15:57:02 GMT - 06/21/2018
For some unfathomable reason to me carney the globalist is rabidly opposed to the brexiters and extremely biased towards the remainers peddling as vigorously as possible fear of recession and everything nefarious with it into the hearts (of patriots) and minds (of the less washed's wallets) that otherwise darkness will descend upon the British nation.
Mtl JP 16:02:57 GMT - 06/21/2018
and if I look at his GS almamatter what is his interest in keeping UK under the heel of the EU ? The simple fact is that his ex-banking buddies will be collecting fees on trades they "put together" be UK in or out of EU anyway.
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