It's a done deal. The ECB and Bank of England will leave interest rates on hold.
More Quotes from Neil Parker:
The Fed made it clear any impact from the hurricane would be temporary. If they don't stop at Katrina why should they stop at Rita Consumers are still dipping in their pockets and spending a vast amount on discretionary goods.Neil Parker
I still doubt the sustainability of the equity momentum. However, we have now built a base that we will bounce off of, and that means 6,300 is definitely within sight.
Neil Parker
I do not think stocks should have a bid premium built into them. That assumes that there is a good reason to buy them.
Neil Parker
They certainly have the resources to do it. They do have to consider diversification. It does make sense for them to look at it.
Neil Parker
The one thing that has worked against the equity market pushing higher is that the UK bond market has been hammered, and yields have subsequently risen. Before it was a one-way bet, but now people are having to be more thoughtful.
Neil Parker
There's no sign of recovery for the euro, ... There's not much the European Central Bank can do with strong oil prices and a weak euro adding inflationary pressure. It has prepared the market for a rate rise next Thursday -- we expect 25 basis points.
Neil Parker
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