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Day: February 7, 2008
February 72008
BoE Lowers Rates, ECB Holds Them
Today two important interest rates decision were highly anticipated by the markets â the monetary policy decisions by the European Central Bank (ECB) and the Bank of England (BoE). Before both of the banks released their monetary policy statements, the majority of the economic analysts were predicting the results. It was expected that BoE will lower the rates, while ECB will abstain from reducing or increasing the interest rates. Both predictions became real â the Bank […]
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February 72008
USD Rallies Up as BoE Cuts Interest Rate
Dollar (and, actually, Japanese yen too) showed a major triumph on Forex market today after the Bank of England decided to go down from 5.50% to 5.25% on the main interest rate. And despite, while BoE lowered the rate, ECB held the rate at the same 4.00% value, dollar bulls pushed EUR/USD down as well as the GBP/USD currency pair. And thatâs on the disappointing fundamental data coming out in U.S. U.S. initial jobless claims […]
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February 72008
South African Reserves Gold Value Increases
Last month South African Reserve Bank bought less foreign currency reserves than in December 2007, as one of the ways to help the rand avoid further weakening. Spurred by the exports of now expensive commodities South African national reserves continued to grow in January, as the government tried to improve the national currencyâs position. Record high reserves in foreign currency and gold also help stabilizing the whole […]
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