MPC

Neil Staines, head of trading for the ECU Group, assesses the impact of recent global policies on currency markets.

Sterling rose against other major currencies this morning after the minutes from Monetary Policy Committee (MPC) meeting showed most members backed Mark Carney's forward guidance policy on interest rates.

Bank of England Governor Mark Carney will this week set out his long-awaited strategy for interest rates with a set of policies designed to reassure borrowers rates will stay low for many months to come.

Sterling and gilt yields have jumped this morning after the latest Monetary Policy Committee minutes revealed Mark Carney and all other MPC members voted against more QE in July.

A member of the Monetary Policy Committee told the Treasury today that "all of the discussions" at the Bank of England are about extending the quantitative easing programme rather than slowing it down.

MONETARY POLICY

Sir Mervyn King chairs his last ever MPC meeting today, but will his parting gift be one last blast of the QE tap?

Carney cure

Outgoing Bank of England Governor Sir Mervyn King has urged successor Mark Carney not to spell out how long interest rates will remain low when he takes charge.

Mervyn King, the outgoing governor of the Bank of England, has warned central banks risk becoming more politicized as a result of their efforts to tackle the banking crisis and subsequent recessions.