Bank Of England Keeps Rate Unchanged At 0.5%, Asset Purchase Target At GBP 200 Billion

Tyler Durden's picture

Both completely in line with expectations. And since the BOE is anything but the PBOC which is actively tightening, the GBP barely budged on the priced in news. The minutes of the meeting will be published on July 20 and 9.30 am. And now everyone shifts their attention east to the ECB where in a 45 minutes Trichet is expected to hike rates by 25 bps or else China will have a full day on its hands buying the EUR dumpathon.

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Transitory Disinflation's picture

Mervyn King looks and acts like Benny Hill.


"Fretting over deflation, the Old Lady's staff are in fact hedging their own pensions against inflation...

A NOTE DOING the rounds here in London points to a very smart move by the Bank of England's pension fund.

Analysts quoting the Guido Fawkes blog...which in turn was tipped off by Peter Oborne writing up an anonymous "source" in the Daily Mail...who also appears to have tipped off Investments & Pensions Europe magazine (IPE)...note a 12% gain in the Bank's pension fund between Mar. 2007 and Mar. 2008 – the latest figures revealed by Freedom of Information filings – thanks to "great market timing.

"The fund sold out of equities entirely, cutting a 21.6% holding down to 0.1% and thus avoiding a 35% drop in UK equities."



They are not worried about THEIRS!



Parallax View's picture

EUR dumpathon, I love it, that's sooooo funny! You guys are poets!