UK MPC Meeting Minutes 02/17/2010

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) is releasing their meeting minutes over the Rate Decision meeting held about two weeks ago along with the actual vote count over the rate decision and the Asset Purchasing Facility program.  If you recall, MPC decided leave both interested rate and APF unchanged and they are undecided on whether or not the APF (quantitative easing program) should expire or extended for the time being.   But without a concrete answer on the APF program, market took that as a bearish message and sold off GBP.

Therefore, we’ll have to pay more attention on the actual minutes and look for the vote count on both the rate decision and APF program.  Should there are any dissenters in either vote, we could see market react to it immediately and we’ll analyze the vote and possibly jump into a trade.

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. Australia Monetary Policy Meeting Minutes 10/19/09
3. UK BOE Official Bank Rate Decision 02/04/10
4. Forex News Trading UK BOE Interest Rate 09/08/11
5. UK BOE Official Bank Rate Decision 03/04/2010
6. BOE MPC Official Bank Rate Decision 10/08/09
7. BOE Interest Rate Decision – Forex News Trading Plan 11/04/10
8. Forex News Trading UK BOE Interest Rate Decision 06/909/11
9. UK BOE MPC Official Bank Rate Decision 11/05/09
10. BOE Official Bank Rate Decision Strategy 06/10/10

Tagged as: Asset Purchases, Bank of England, bank of england monetary policy committee, BOE, British Pound, 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, Posen, Profound Effect, Qe, UK, United Kingdom, Vote Count