Day: December 6, 2007

December 6
2007

ECB Holds Rate, Trichet Predicts Hike

European Central Bank published its scheduled Monetary policy decisions today, leaving the main refinancing operations interest rate at 4.00%. Jean-Claude Trichet, Central Bank President, commented this decision saying that ECB is ready to fight the pressure of the rising inflation. EUR/USD jumped back almost 1% after being generally bearish this week. Accelerating inflation, which reached its yearly highs last month, makes […]

Read more
December 6
2007

Bank of England Cut Rate by 0.25

The Bank of England’s Monetary Policy Committee today decided to reduce the official interest rate paid on commercial bank reserves by 0.25% from 5.75% to 5.5%. The decision was driven mainly by the slowdown in the economical output and moderating consumers’ spendings. Other problems noted by the Committee, which are “posing downside risks to the outlook for both output and inflation further ahead”, relate to the financial sector affected by the mortgage banking crisis. As the inflation rate for October was […]

Read more
December 6
2007

Offset Trading Strategy E-Book

Another Forex strategy e-book can now be downloaded from my site, it is Offset Trading by Dana Martin. This e-book isn’t very bright, but describes one of the most potentially profitable Forex trading strategy — range breakout trading on news releases. After 2–3 pages of actually describing the strategy it becomes a some sort of advertisement for MB Trading broker and their trading platform. But I can assure […]

Read more
December 6
2007

New Zealand Dollar Rises on Unchanged Rate

New Zealand dollar rose against all other major currencies after the Reserve Bank of New Zealand left the Official Cash Rate (OCR) — short-term lending interest rate — unchanged at 8.25%. And as it was hinted by Bank Governor Alan Bollard the rate is not likely to be lowered until 2009. Alan Bollard marked labor market problems and the slowdown in housing sector as the main obstacles for the economical growth increasing: Economic […]

Read more