FOREX NEW YORK COMPANIES

FXstreet.com (Barcelona) - The MPC voted 5-4 against extending QE purchases at the June meeting, "much closer than the expected 7-2 outturn", as RBS European Economics team reports. "The shift is clearly being driven by the deterioration in financial market conditions (...) It is also clear from the Minutes that some of the five members voting for no change believe that further QE is likely to be required soon," they explain.

In RBS's economists view: "Overall, more QE is coming in July (£50bn) - with further increases beyond that a clear possibility. The MPC's position on Bank Rate cuts has softened slightly but we do not expect any move here given the two credit easing initiatives (ECTR and 'funding for lending') unveiled by the Governor and the Chancellor at the Mansion House last week."