Forex Marketz Daily Forex News – Fully Markets Update
The Bank of England (BOE) has decided to keep their interest rate at a record low of 0.5 percent. They also made no modifications to their asset purchase program which remained at £375 billion. We, largely, expected this move and are now waiting on the release of the minutes from the latest meeting which will be published at 0930 GMT on November 19.
Investors will now focus on the BOE inflation report due out next Wednesday. We hope to gain more information as to when they will make a rate move at that time.
The European Central Bank (ECB) also kept rates the same. There was no move on any new monetary easing as well. All eyes and ear are now waiting for Mario Draghi, the ECB President, to have his press conference. There is some drama behind the scenes as some of the ECB policy board members are questioning his management and communication skills.
At the time this report was written the EUR/USD was trading at 1.2415, below the key 1.25 level and the GBP/USD was trading at 1.5914, below the key 1.60 level.
Check back often for updates at CupO’Forex. Your news leader for Forex and breaking financial news.
