17.09.2014 - The Bank of England keep talking about a rate increase
Today have been published the minutes of the previous meeting of the Bank of England. Thus, the document indicated that 2 of the 9 members of the Monetary Policy Committee voted to raise rates to 0.75%. Most of the members pointed out the weakness of the euro area economy as a risk to the British economy. Also were noted signs of a slowdown in the housing market in the 4th quarter. The crisis in Ukraine and in the Middle East is not strongly impacted on the economy of Great Britain. In addition there was noted an increase in volatility ahead of the referendum on Scottish independence. If Scotland will vote for the unity of the country, we recommend to open long positions with the objectives of 1.66 and 1.69.