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ECB and BoE meeting Review

Fri, Sep 7 2007, 09:34 GMT
by Marina Schiaffino

FXstreet.com

As it was expected ECB as well as BoE, have both left their interest rate unchanged at 4% and 5.75% respectively. At its post meeting speech ECB’s president Jean Claude Trichet has announced great attention in the money markets, as well as the determination to act in a "Firm and Timely Manner" to maintain inflation in levels below the 2.0% annual rate.

Check the effect that the result of the meetings is having over the pairs in our Rates and Charts Section or compare the movements of the different banks in our World Interest Rates Table.

• · Read the Monetary Policy Decision at ECB
• · Read the report: Bank of England Maintains Bank Rate at 5.75% at BoE

In-Depth Analysis

• · ECB: Rate hike postponed for now by Danske Bank A/S
• · Daily Global Commentary - ECB and BOE Hold Policy Rates Steady As Expected by Northern Trust
• · Daily Forex Strategy Briefing - ECB Turns Data Dependent by CMS Forex
• · European and US summary - Euro Rallied on ECB Inflation Focus by Forexnews.com
• · Daily Analysis - BOE, ECB Act to Protect Economies From Higher Rate by Finotec Group Inc.
• · Mid-Day Forex Technical Report -Euro in Range, Sterling Retreats after Central Banks on Hold by ActionForex.com

Related News

• · BoE holds rates at 5.75 pct, sees CPI at or below target in coming months UPDATE (Thomson Financial News)
• · The ECB keeps Refi Rate on hold at 4% (FXstreet.com)
• · UPDATE: European Central Bank Holds Steady Amid Market Turbulence (Dow Jones)
• · UPDATE: Bank Of England Keeps Interest Rates On Hold At 5.75% (Dow Jones)
• · Trichet says ECB will monitor inflation risks 'very closely' UPDATE (Thomson Financial News)
• · BoE warns that rates may have to rise again (Thomson Financial News)
• · ECB cuts 2007 euro zone growth forecast in wake of financial markets turmoil (Thomson Financial News)
• · Trichet says ECB will monitor inflation risks 'very closely' (Thomson Financial News)

Analysts' Comments

• Juergen Stark, ECB executive board member:
  "Today I can tell you we are enhancing the monetary analysis, so the expectations of the watchers may be a disappointment." - Thomson Financial News
  
• · Peter Stoneham, analyst at Thomson IFR Markets:
  "We are hearing dovish undertones from the Trichet press call." - Thomson Financial News
• · Daragh Maher, senior forex strategist at Calyon:
  "The message up-front today was that a (BoE) rate cut would only be justified if the inflation target were likely to be undershot without one - nonetheless, the evidence for generating a view of an inflation undershoot is building." - Thomson Financial News
  
• · Karen Ward, economist at HSBC:
  "The BoE is keeping its fingers crossed that all the market turmoil will all go away. They acknowledge there may be spillovers which they will monitor but at the moment they believe the impact will be limited." - Thomson Financial News

Published on  Fri, Sep 7 2007, 09:40 GMT