BOE MPC Official Bank Rate Decision 10/08/09

[flv:http://www.newsprofiteer.com/100809-boerate/100809-boerate.mp4 480 360]

7:00am (NY Time) UK Offcial Bank Rate Decision  Forecast 0.50%   Previous 0.50%
ACTION: GBP/USD      N/A

BOE’s MPC is scheduled to release interest rate decision today, and it’s expected that Bank of England will keep the current rate at 0.50% (again).  If you remember last rate decision, BOE kept both interest rate and APF unchanged, which turned out to be a bullish signal for the sterling. 

One interesting observation is the MPC meeting minutes of the last rate decision meeting, which came out at an unanimous vote count of keeping both rate and APF unchanged.  Seems like the dissenters have decided on a wait and see policy.  This is of course, a rather bullish signal for the Sterling.

Today’s rate decision will once again hinged upon the APF program.  If BOE were to increase it once again, it would surprise the market and we could see immediate Sterling weakness.  However, on an unchanged verdict, market may not necessarily take that as a positive sign.  Therefore, regardless of the rate decision, we could see some weakness in the Sterling prior to the release.

As usual, I’ll be trading this news live and post the results back here.  If everything is as expected, we could see very little market reaction, and therefore it could be a no trade.

Related posts:

1. UK BOE Official Bank Rate Decision 09/10/09
2. UK BOE MPC Official Bank Rate Decision 11/05/09
3. BOE Official Bank Rate Decision 04/08/10
4. BOE Official Bank Rate Decision Strategy 06/10/10
5. Trade Plan For UK BOE Official Bank Rate Decision 07/08/10
6. UK BOE Official Bank Rate Decision 03/04/2010
7. UK MPC Official Bank Rate Decision (BOE Interest Rate) 12/10/09
8. UK BOE Official Bank Rate Decision 02/04/10
9. BOE MPC Official Bank Rate Decision 01/07/10
10. Forex Analysis For UK BOE Interest Rate Decision 08/05/10

Tagged as: APF, BOE, bulls and bears, Governor King, Interest, interest rate decision, Key Interest rate, MPC, pips, pound, pound sterling, Rate Decision, retracement, risk appetite, Sterling, UK, uk interest