This morning both Consumer Price Index (CPI) and Retail Price Index (RPI) due at 9:30am. The expectations are for both of these figures to fall further back towards the target level the Bank of England (BoE) have of 2% and considering the levels have recently been over double this figure it could give some confidence that the BoE are getting the situation under control. High inflation is often kept under control by a hike in interest rates but with the housing market and the wider UK economy currently at a delicate balance it seems unlikely that there is any room to increase rates so the BoE will be hoping that inflation continues to come under control even with the recent Quantitative Easing (QE) they have announced. High inflation can be damaging to an economy as it means the price of goods and services is increasing quickly while wages may not be keeping in line with this. However, for Sterling exchange rates high inflatino figures have led to rumours of a hike in interest rates which has led to a short term spike.

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