Bank of Japan To Increase Money Supply
In an announcement overnight the Bank of Japan have stated they will dramatically increase the supply of money into the Japanese economy in order to help stimulate growth. This is the first move from new Japanese Prime Minister Shinzo Abe and Bank of Japan governor Haruhiko Kuroda which signals their intent to help see the world’s third largest economy grow. The figure quoted by the Bank of Japan showed that they will be pumping around 70 trillion Yen into the economy per year which is a considerable amount of money and does highlight the new Prime Ministers intent. As a result of this news we have seen the Yen move by over 2% showing just how volatile the currency markets can be. This news has also meant that if you or your business needs to transfer money to Japan then it is important to speak with a specialist currency broker who will be happy to discuss your currency requirements and the options available to you. These options include market orders such as a limit order and a stop loss order where you can let our systems monitor the markets for you and if a rate you select becomes available we will buy or sell the currency on your behalf. Speak to one of our experienced currency brokers to find out more.
Interest Rate Decisions Due Today
The lateste decisions on interest rates for both the UK and Eurozone will be announced at midday and 12:45pm respectively. While we are not expecting a change in either interest rates there is a chance that we could see more Quantitative Easing (QE) for the UK which could lead to some major Sterling exchange rate movement if that is the case. So, if you need to send money abroad and you would like to be kept up to speed with the currency markets and the latest news regarding the Cyprus issues or the latest interest rate decision call us today. You can call straight through to the trading floor on 01494 849752 and one of our expert brokers will be happy to help.