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Greeks To Pay IMF

Greeks To Pay IMF

Today sees the last Bank of England rate decision announcement before the General Election on May 7th. Of course, nothing is certain in life, other than death and taxes, but I think on this occasion we can be pretty certain that there will be no change and interest rates will remain on hold until after we know who is going to be running the country.

Greek PM Tsipras spent yesterday in the company of Vladimir Putin which got market commentators in a bit of a spin over what precisely he was doing there. There was an anxiety that Tsipras was exploring the possibility of getting financial aid from Russia which would certainly not have been a positive move for the EU. This has all been subsequently denied by the Greeks who have maintained that they want to come to a financial solution within the EU. Greece are also looking to pay €459m to the IMF today as part of its loan repayment. These funds have been secured by Greece selling €1.14bn in six month treasury bills this week which should keep them above water for a little while longer.

The Fed released minutes from its last meeting yesterday which provided a slight shock as members of the Fed discussed raising rates earlier than many have expected. These discussions were held prior to the disappointing Non Farm Payrolls figures so one would expect a slightly different point of view to be currently held.

So, Bank of England rates and minutes to take centre stage at 11.00 and then all eyes on Greece!

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