Archived IMT (2010.08.09)

3-WAY FOMC SPLIT? How about a 3-way split at the FOMC tomorrow? Kansas Fed's Hoenig keeps his (hawkish) dissent against the "exceptionally low rates" lingo, St. Louis Fed's Bullard votes (dovish) for implementing bond buys on the spot-in line with his recent statements, and rest of the FOMC votes for the status quo. The Bank of England MPC had several 3-way splits before, regarding QE and rate moves. The Fed is not known for dissents involving more than 2 members. A 3-way split has never been seen at the FOMC, but in today's multi-measured central banking, the outcomes could be different. In the above scenario, a Bullard-vote in favour of QE to be implemented right away, would be the notable surprise and play against the USD. VIEW ASHRAF's VIDEO PREVIEWING TODAY's FED DECISION

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