UK MPC Meeting Minutes 3/17/2010

5:30am 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 on the Rate Decision meeting held two weeks ago along with the actual vote count over the rate decision and the Asset Purchasing Facility program.  If you recall, MPC once again left both intereste rate and APF unchanged, and immediate market reaction was to sell off GBP… (although this reaction could also be attributed to Trichet’s Press Conference, but GBP was already weak at this moment.)

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.  Of course if we see anything short of unanimous vote on the APF issue, expect GBP to be solf off; on the other hand, if we don’t get unanimous vote on the Official Bank Rate, then we might see some strenght in the Sterling (as there might be members leaning towards hiking rates).

However, with the current economic situation in UK, we probably won’t get any surprise.  Here is an article from Bloomberg which I recommend everyone to read… It talks about the situation in UK compared to Greece…  Bloomberg Article

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. BOE MPC Official Bank Rate Decision 10/08/09
4. UK BOE Official Bank Rate Decision 03/04/2010
5. Forex News Trading UK BOE Interest Rate 09/08/11
6. UK BOE Official Bank Rate Decision 02/04/10
7. BOE Official Bank Rate Decision Strategy 06/10/10
8. BOE Official Bank Rate Decision 04/08/10
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, 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