Over the weekend David Cameron vowed to bring economic growth back to the struggling UK economy. Cameron is to announce a number of measures aimed at helping the economy recover from the current double dip recession and it is expected that a large part of this is to focus on building more houses which should help boost the construction industry, create more jobs and possibly even provide cheaper properties for first time buyers which may help increase the amount of cash flowing through the economy. The UK housing market is seen as a key aspect of the economy due to so many people in the UK having their funds tied up in property so while some first time buyers may appreciate new, cheaper houses coming onto the market, those people trying and struggling to sell their house may not want the increased competition. As always there are pros and cons to all ideas so it will be interesting to hear Cameron outline all his plans in full before we decide on their possible implications. In the meantime Sterling exchange rates have held reasonably steady as many investors wait to hear what the actual details of Cameron’s plans are and also wait to hear more news from Europe.
This Thursday is expected to be a key day with both the UK and Europe expected to announce their latest interest rate decision, but possibly more important will be whether Europe will announce some information regarding how they plan to deal with the current economic crisis they are currently in. With Spain and Greece in major economic trouble, both asking for bailouts, there is a lot of work to be done to help the single currency economy recover and it could be that any announcement will lead to some significant Sterling Euro exchange rate movement.
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