BOE MPC Meeting Minutes 11/18/09

4:30am NY Time UK MPC Meeting Minutes          Forecast 0-0-9     Previous 0-0-9
ACTION: GBP/USD           N/A

MPC, Monetary Policy Committee, from Bank of England (BOE) will be releasing their meeting minutes over the Rate Decision meeting held 2 weeks ago along with the actual vote count over the rate decision and the vote count over the increase in its APF program.  If you recall, MPC decided leave the interested rate unchanged but surprised the market by only increasing its QE program by 25 Billion Pound against analysts estimate of 50 Billion Pound Increase.  This action provided an immediate short-term rally for the British Pound as traders and speculators both wonder the reasons to this surprisingly strong outlook for the GBP from BOE.

Therefore, we’ll have to pay more attention on the reasoning and the vote count for the less than expected increase in the APF program in this meeting minutes release; if there is a strong justification for BOE’s action, GBP may rally once again; however, if the vote count is split and more members are looking for a 50 Billion pound increase, expect to see GBP fall under selling pressure.  (As far as the vote count, I’m usually looking for at least 2 dissenting votes as my deviation).

I’ll be trading this release live as always do and I’ll post my results afterwards.  This trade is for the more advanced trader as we’ll have to deal not only with interpreting the actual minutes but also reading market sentiment, therefore unless you’ve traded this before, maybe it is better to skip it.

Related posts:

1. UK MPC Meeting Minutes 08/19/09
2. UK BOE MPC Official Bank Rate Decision 11/05/09
3. UK BOE Official Bank Rate Decision 09/10/09
4. Australia Monetary Policy Meeting Minutes 10/19/09
5. BOE Official Bank Rate Decision 04/08/10
6. UK BOE Official Bank Rate Decision 02/04/10
7. BOE MPC Official Bank Rate Decision 10/08/09
8. Forex News Trading UK BOE Interest Rate 09/08/11
9. BOE Interest Rate Decision – Forex News Trading Plan 11/04/10
10. Forex News Trading UK BOE Interest Rate Decision 06/909/11

Tagged as: Asset Purchases, Bank of England, bank of england monetary policy committee, BOE, British Pound, Evidences, Exit Strategy, Financial Times, Forex, Forex News, Fundamental News, fundamental outlook, GBP, GBP/JPY, GBP/USD, Inflation, Interest rate, interest rate decision, JPY, Key Interest rate, Matter Of Fact, Meeting Minutes, Minutes, monetary policy, monetary policy committee, MPC, MPC Meeting Minutes, Paul Fisher, pips, Posen, Predecessors, Profound Effect, Qe, Resul, UK, United Kingdom, Vote Count