Will the Bank of England print more money?

A milestone week for the markets this week with lots of data to look out for both here and across the pond.

For sterling the main focus is undoubtedly centered upon the Bank of England meeting with the decision announced on Thursday at midday. The opinions on what will happen have been variant and this underlines the uncertainty surrounding the decision.

Loans Calculators is favouring another £25 billion expansion at the moment.

Other factors that will affect sterling are reports that Gordon Brown is set to announce new “fiscal stimulus” in the autumn pre-budget statement and the restructuring of the UK banking sector. These two facets are likely to lead to change and uncertainty which is never good for the currency.

Some positive signs over the weekend that the Global economy is slowly on the mend, well at least in Asia. China’s October PMI rose to 55.2 from 54.3 in September and there was news the country had created 7.57 new jobs in the first 8 months of the year.

Meanwhile Australia has upgraded it’s economic outlook and Australian house prices rose 4.2% in the third quarter- this could seal a 50 basis point rate rise this week from the RBA.

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