Thursday, 17 March 2016

Pound rises after BoE minutes

Since my earlier post, the Pound has surged after the Bank of England stated that they won't be following the EU and Japan in cutting interest rates. There was expectation the BoE would have to do this at some point, and now this isn't the case, the Pound has gained significantly as a result:


 I hadn't expected Sterling to gain given the concerns over the referendum and the downward revision of growth forecasts, but the fact rates will not be cut to negative is a positive for Sterling.

This does create much better opportunities for buying Euros, and if you would like a quote for your exchange, click here.