At the last BoE meeting, sterling got some measure of relief as the bank decided not to move forward with rumored measures to cut the deposit rate for banks who held their reserves at the central bank.
Today, however, the Bank confirmed that it is considering making such a move and GBP took an enormous hit versus the broader market, swooning all the way back below 1.6500 vs. the USD and sending EUR/GBP to a new since June.
The Fed’s Bullard was out overnight arguing in favor of flexibility if the US economy proves weaker than expected, with “flexibility” meaning potentially extending the largest of its QE measures – the purchase of mortgage-backed securities – beyond the end of March deadline now established by the recent Fed monetary…
The DJIA completed the Global Equity Market rally today currently ahead 140 points to 10,410. The rally during the Asian and London session got underway as the Asia Pacific Economic Cooperation group universally agreed to maintain and support whatever measures are necessary to put the global economy back on track.