What Can We Expect from Sir Mervyn King’s Final Set of Bank of England Minutes? – Vantage FX Comments

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Vantage FX’s Jay Mawji comments on what to expect from Mervyn King’s final minutes while in charge.

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On 19th June at 8.30am what could be the final set of minutes to be released before the new Governor of the Bank of England takes over? While no major changes are expected it will be important to note where the sentiment sits, as this might indicate how likely further stimulus action will be.

Vantage FX, Head of Market Analysis Jay Mawji commented:

“This is the last set of minutes with ‘Mervyn the Magician’ in charge. We don’t expect them to say too much, but look for little indications of which way MPC members are leaning. With incoming governor Mark Carney due to take over in July, analysts are uncertain on which way the BoE will go… whichever way it decides, the ‘Carney Factor’ is likely to bring change; potentially to interest rates.”

While Sir Mervyn King has had his ups and downs, when Mark Carney takes over, all forex eyes will be on his change in tack on decisions on interest rates, quantitative easing and his key appointments, especially as the likes of deputy governors Paul Tucker (just resigned) and Charlie Bean (retiring next year) will not be there from the ‘old guard’.

To help traders keep their eye on key sentiment changes each day, Vantage FX are providing a regular Forex Sentiment Index.

It will be fascinating to see how the BoE minutes and indeed Mark Carney’s arrival will affect it.

About Vantage FX

Vantage FX is an internationally recognised Forex broker based in the City of London, providing foreign exchange trading services and a UK trading platform to clients in the UK, the EU and the rest of the world.

What sets forex brokers Vantage FX apart is their wide range of services and outstanding level of customer support. The company strives to provide an intuitive, interactive Forex experience by continually innovating and taking advantage of the latest trading technology, such as MetaTrader 4 and Expert Advisors as well as offering handy tools such as a forex market calendar.

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