MPC Minutes show 7-2 in favour of £50bn Quantitative Easing

AUDGBP Lower as Retail Sales Slump Down Under

At 930am this morning the MPC announced that 7 members voted for further QE of £50bn and two further members wanted an increase to £75bn. This has sent Sterling Exchange rates tumbling across the board but they haven’t dropped as much as expected against the Australian Dollar. At the time of writing the GBPAUD exchange rate has only fallen 0.3% compared to the previous day close which indicates that Australia may have more concerns over the Greek bailout which has seemingly dominated the headlines over the last few weeks. For more up to date information feel free to email me Tom Holian [email protected]