Whether the global consensus tide metal can be profitable

The Reserve Bank of Australia:

Yesterday, the RBA unexpectedly announced that it would maintain its benchmark interest rate unchanged at 4.25% and released a signal of interest rate cuts to the market. Prior to this, the market generally expected the Australian Central Bank to lower its benchmark interest rate to 4%. Australia's central bank governor Stevens said that Australia's inflation rate will continue to fall in the first half of this year. Due to low price pressures, the central bank will have room to further lower the benchmark interest rate when necessary to promote sustained economic growth and low inflation.

The Reserve Bank of Australia cut interest rates by 25 basis points in November and December 2011, respectively.

Bank of England:

During this week’s meeting on interest rates, the Bank of England is expected to maintain a low interest rate of 0.5%. Affected by the European debt crisis, the British economy contracted by 0.2% in the fourth quarter of last year, and the momentum of negative growth will continue to maintain in the first quarter of this year. In order to prevent the economy from falling into a second recession, market participants expect the Bank of England to maintain its existing interest rate unchanged and raise the scale of quantitative easing by 50 billion pounds to 325 billion pounds.

European Central Bank:

The market predicts that the European Central Bank will keep the interest rate unchanged at 1%, but if the Greek debt crisis continues to deteriorate, the probability of the European Central Bank cutting interest rates is very high in March; after the arrival of the new European Central Bank Governor Mario Draghi, in November and December 2011 They cut interest rates by 25 basis points respectively to a historic low of 1%, and in December issued 489 billion euros to the Eurozone bank with a low interest rate of 1% for a period of three years, known as the European version of quantitative easing.

The survey shows that the European Central Bank may further reduce interest rates to 0.75% at the March meeting.

SMM comment:

Recently, Greek debt negotiations are the focus of attention in the global metal market, and various signs indicate that Greece is likely to resolve the immediate debt crisis through negotiations. The interest rate meetings of various countries are also worthy of attention. If the Bank of England is to introduce a quantitative easing measure of 50 billion pounds this week and the Greek issue is moving in a positive direction, the metal market may have a good market.