UK Interest Rates and QE
At midday today we have the release of the latest Bank of England interest rate decision where they will also announce whether there will be any change in Quantitative Easing (QE). It is expected that there will be no change in either interest rates or QE however, should there be any surprise announcement then we could see some significant Sterling movement. The other factor to be aware of is the new Governor of the Bank of England Mark Carney’s forward guidance which is basically Carney’s way of providing a “heads up” to the markets of what the central bank are considering. Through his forward guidance it gives a glimps into what may happen with both interest rates and QE in the furture and therefore takes surprises out of the market (for the most part!) and helps financial institutions understand the thinking behind the Bank of England’s policies. For example, Mark Carney has already stated that interest rates are highly unlikely to change until UK unemployment falls below 7% – recent figures have shown we are heading in the right direction but are still some way off yet.
So, if you need to transfer money internationally and would like to be kept up to date with all the latest currency news get in touch with one of our experienced currency brokers today who will be happy to discuss your currency requirements and the options available to you. You can call straight through to our trading floor for free on 0800 328 5884 or if calling from abroad 0044 1494 725353 or alternatively email email@example.com