Wednesday preview: BoE releases MPC meeting minutes

22nd Oct 2013 15:01

The Bank of England (BoE) will release minutes of its last meeting on Wednesday, shedding further light on the central bank's decision to keep its monetary policy unchanged.The BoE's Monetary Policy Committee earlier this month stuck to its pledge to keep interest rates at a record low of 0.5% until the unemployment rate falls to 7% - which is not expected for another three years.The central bank also decided to leave its total asset purchases unchanged at £375bn.The minutes will reveal which ministers voted in favour of the decision and will provide more details into the reason behind the BoE's move. Also in the UK on Wednesday will be the Loans for House Purchases report from the British Bankers' Association. Loans are expected to rise to 39,500 in September from 38,228 the prior month. In the US, Mortgage Banker's Association mortgage application figures and house price index data will be unveiled as traders look to economic indicators to speculate on whether the Federal Reserve will start to trim back stimulus.Turning to the earnings session, GlaxoSmithKline, ASOS, British American Tobacco, Sports Direct and Home Retail Group will release their latest results. ASOS delivers its full-year statement after reporting a better-than-expected fourth quarter last month. The online retailer is forecast to post profit before tax (PBT) of £53.5m, according to Canaccord Genuity. "One should note that this level of PBT is depressed by £6m worth of start-up losses in China suggesting the core business is delivering profits 10% higher than is actually being achieved," the broker said. Wednesday October 23thINTERIMSHome Retail GroupINTERIM DIVIDEND PAYMENT DATEInternational Public Partnerships Ltd., InterserveINTERIM EX-DIVIDEND DATEBAE Systems, Camkids Group, Central Asia Metals, Downing Planned Exit VCT 2011 (General Shares), Downing Planned Exit VCT 2011 (Low Carbon Shares), Downing Planned Exit VCT 2011 (Structured Shares), Goals Soccer Centres, Hansteen Holdings, Harvey Nash Group, JZ Capital Partners Ltd, Marshalls, Martin Currie Pacific Trust, Menzies(John), Morgan Advance Materials , Octopus VCT , ProVen Growth & Income VCT, ProVen VCT, Restore, Rolls-Royce Holdings, Senior, Tullett Prebon, Walker Greenbank, William Hill, Zhejiang Expressway Co 'H' SharesQUARTERLY PAYMENT DATEAssura Group Ltd.QUARTERLY EX-DIVIDEND DATECity of London Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Confidence Indicator (EU) (10:00)Crude Oil Inventories (US) (15:30)House Price Index (US) (15:00)MBA Mortgage Applications (US) (12:00)Import price data (US) (13:30)Q3GlaxoSmithKline, Norsk Hydro ASAFINALSASOSIMSSBritish American Tobacco, LairdSPECIAL EX-DIVIDEND PAYMENT DATEBailey (C.H.), Smiths GroupEGMSMTI Wireless Edge Ltd.AGMSArcontech Group, Haynes Publishing GroupTRADING ANNOUNCEMENTSSports Direct InternationalUK ECONOMIC ANNOUNCEMENTSBBA Mortgage Lending Figures (09:30)BoE Interest Rate Minutes (09:30)Mansion House speech Andrew Bailey (19:30)FINAL DIVIDEND PAYMENT DATERank Group, UniVision Engineering Ltd.FINAL EX-DIVIDEND DATEAeorema Communications, Barratt Developments, ISG, JPMorgan Emerging Markets Inv Trust, Mcbride, Smiths Group, Thorpe (F.W.), Wetherspoon (J.D.)RD