U.K meeting minutes vote of keeping interest rates on hold

Wednesday, 18 May 2011 12:36

News just in by the Bank of England, Minutes of the Monaterly Policy Committee meeting voted 6-0-3 to keep interest rates steady on hold for the ongoing month.

Unemployment change was released at 12.400 jobless individuals seeking for work; while expectations were reported to be at a rise of 400 people in April.  Last month's jobless change reported 6.400 people looking for jobs.  Although unemployment change was released a little worse than expected, mixed feelings are presented as unemployment rate was released at 7.7%; lower than the previous 7.8% and 7.9% forecast.

GBP/USD pulled back prior to the news releases at 1.6220, only to recover after the news to trace back at 1.6250; the pair pulled back against as it's trading at 1.6183.

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