Archive for May 18th, 2011

Central Bank Watch

Bank of England Minutes and a Little Background History

May 18, 2011

When the Monetary Policy Committee last met on May 4-5, policymakers found the inflation outlook no clearer than before and voted in the same highly fractious pattern as they had at the previous three monthly meetings.  Uncertainty is compounded by two conflicting forces.  Cost-push inflation from raised indirect taxation, elevated commodity prices and previous sterling […] More

New Overnight Developments Abroad - Daily Update

Near-Term Dollar Direction Unclear

May 18, 2011

The dollar is 0.1% softer than its Tuesday close at 1.4256 per euro.  It had slumped from a 17-month high of $1.4941 on May 4 to a low of $1.4064 on May 13 before partly recovering this week, but traders are unsure whether the correction has paused or ended.  One continuing cue is stock market […] More