Cable opens easier; BOE rate decision awaited
By Gerry Davies || November 5, 2009 at 06:44 GMT
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Cable sits at 1.6515, down from the North American close Wednesday around 1.6555. The market now awaits the latest Bank of England rate decision. Rates almost certain to be kept on hold at 0.5%; it’s what the Bank decides on quantitative easing which holds the market’s attention.
A week ago I had no strong feeling as to what the Old Lady might do. As we’ve gotten closer the day I’ve become increasingly convinced they’ll extend QE and if they”re going to extend they might as well do £50 bln as £25 bn. At the end of the day I just can’t get away from the... Full Story
