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Bank of England to lower? Here's the story
Barclays Capital, Lloyds TSB and Royal Bank of Canada have today all changed their stance to a cut at the MPC meeting tomorrow. In the UK the Inflation problems are two-fold; on the one hand there is the lack of strength in regional economic growth data that has been reported recently, and on the other there is Food and Energy Inflation that is roaring ahead unabated. Food prices are soaring, Fruit and Veg in the UK have increased over 20% since July, and Gas prices are running at $9 a gallon. House price Inflation has reduced a little, but maybe not enough to stop the Bank from having to now lower. As such the Trade Desk is looking at the Bank of England being more likely than not to lower Rates, if not on 6th December then early in January. 2.0250 looks to be a pivotal point that Traders will be looking for, and under that 2.0100. [IMG]http://www.thelfb.com/wp-content/uploads/12_04_07/12_05_07_TSGP.JPG[/IMG] The full story on the Gbp/Usd [url]http://www.thelfb.com/trade-desk-charts/chart-images-gbpusd[/url]
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