Bank of England Minutes Take Centre Stage

This morning at 9:30 we have the latest set of minutes from the Bank of England (BoE) which will show how the vote was decided for whether the BoE should raise interest rates or not. Recently we have seen two members start voting for an interest rate hike but with a number of poor economic data sets it will be interesting to see whether one of these members decided to vote for a hold in interest rates. Should we see this then we could be in for some Sterling weakness, however if the opposite happens and another member of the BoE votes for a rate hike we could yet again see some Sterling strength although due to the recent economic outlook I feel this is unlikely. Many analysts, including some of those from within the BoE have stated that interest rates may now not rise until late summer next year which is quite a change considering earlier this year some analysts were forecasting an interest rate rise before 2015. This change in outlook has halted Sterling’s ascent and means that we may now be witnessing some of the higher levels against the Euro especially that we could see for a while. So, if you need to buy Euros it may be worth speaking with one of our senior currency brokers here at Foreign Currency Direct plc who will be happy to discuss your currency requirements and the options available to you.

At Foreign Currency Direct plc we offer numerous contract options all of which can be tailored to client’s individual requirements so whether you need to transfer money this week or next year it is worth speaking with us today so we can explain our service and how we can help you. Our award winning service has been highlighted as having the best exchange rates in various national newspapers and we were also finalists in the National Business Awards for customer service so we are always confident we can save client’s money, time and hassle on their international money transfers. To find out more information please call us for free on 0800 328 5884 or if calling from abroad call 0044 1494 725353 alternatively you can email me direct on