Markets Await BoE and ECB Rate Cuts; China has to be Watched

By James A. Hyerczyk
03 December 2008 @ 06:43 pm EDT

Overnight Forex trading may be light as investors are expected to stand on the sidelines ahead of the early morning interest rate announcements by the Bank of England and the European Central Bank. The consensus is for the Bank of England to cut by 100 basis points to 2.00% and the European Central Bank to slash rates at least 50 basis points to 2.75%. Traders should be aware of the possibility of greater than expected cuts as the BoE surprised the markets in November with a 1.5% cut. Besides the interest rate news, traders should pay attention to the central bank language released with the reports. Of particular interest will be how aggressive these two central banks will be in the future.

IBTimes Forex Experts

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