QE Off The Table – For Now

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The BoE maintained a status quo monetary policy stance yesterday which proved highly supportive for Sterling against the majors. Concerns over the outlook for inflation poured cold water on market speculation for additional easing. Meanwhile, a sharp decline in Nationwide consumer confidence index, released earlier today, put pressure on the Pound.

Risk appetite has taken a hit today following a huge unexpected trading loss from JPMorgan Chase, uninspiring Chinese economic data and ongoing Greek political deadlock. With little on offer in terms of European economic releases, markets await US consumer confidence and producer price inflation data due later today.

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QE Off The Table – For Now

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