GBP: BOE leaves policy unchanged as expected June 2014

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The Bank of England was not expected to make any changes to monetary policy, leaving the interest rate at 0.50% (same since March 2009) and QE program at 375 billion pounds.With the economy continuing to grow quickly and housing prices on the rise, there is growing pressure for a rate hike on Carney and co. Such a hike could even come before the end of the year. The meeting minutes could show that some members voted for a rate hike at this meeting.

GBP/USD traded around 1.6760 towards the decision, dropping from an early move higher.The pair is stabilizing at current levels.

The more closely watched decision today comes from across the channel: the European Central Bank is expected to take action, and quite a bit of it.

See the ECB Preview: Going negative and beyond – 6 options for Draghi

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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