The Bank of England releases their minutes from the previous MPC meeting at 9:30am, the immediate headline will be how the members voted on the interest rate and asset purchases. Investors will then look for a change in stance or hints regarding the future policy; interest rates have been held at a historic low since 2009. The current does of ultra-loose monetary policy will need to be withdrawn at some point in the not too distance future, though analysts believe that the next Governor Mark Carney could fire up the printing presses when he starts in July. At the same time as the BoE minutes the UK retail sales and public sector net borrowing will also be released. The PSNB figures will be closely watched as it is key policy of the UK governments to eliminate the budget deficit by 2017-18, and the current austerity measures have come under criticism from global powers such as the IMF.
Mark Carney, has warned that Europe could face a decade of stagnation unless it takes the kind of bold measures seen in Japan
FTSE 100 continues to power higher, with the all-time high record close of 6950.60 from 1999 insight - Reuters
The IMF urges the UK government to sell its stakes in RBS and Lloyds
Gold swung between gains and losses as investors weighed the outlook for stimulus by the U.S. Federal Reserve amid further outflows in investor holdings - Bloomberg
This afternoon Fed Chairman Ben Bernanke will be testifying about the US economy, traders will be watching this closely for any clues on future policy, as the Fed currently pursues an aggressive programme of easing. There is the FOMC at 7pm (London).