Interest Rate Decision Day – GBP EUR Exchange Rates
Today we have the latest set of interest rate decisions for both the UK and the Eurozone, while there is no expectation that the Bank of England will amend interest rates just yet there is an outside chance of the European Central Bank (ECB) acting to try and prevent deflation which is a major issue for the Eurozone. Some analysts have called for an interest rate cut, the start of a bond buying programme or even a more extreme approach of negative interest rates. The announcement from the Bank of England is at midday and the ECB will make their announcement at 12:45pm with an accompanying statement following the announcement. Whether the ECB act today or decide to leave it for another month the statement will be very interesting and is likely to cause volatility for Sterling Euro exchange rates.
So, if you need to buy Euros and would like to discuss the options open to you before the announcements today call us on 0800 328 5884 and one of our experienced currency brokers will be happy to help.