Yesterday’s minutes of the BoE last policy meeting highlighted that further liquidity boosting measures could not be ruled out as lowering interest rate and providing a £75 billion liquidity injection were among the policy measures that played on the minds of the policymakers. In a positive development on the macro front, retail sales continued to grow, albeit at a slower pace and unemployment rate declined.
The US Fed Chairman’s insistence that the central bank would remain vigilant and take measures to prevent a slowdown has strengthened speculation of a QE3. US jobless claims, Spanish bond auctions and German vote on the Spanish aid are key events to look out for today.
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