Sterling Euro Exchange Rates poised to fall owing to the Bank of England? (Tom Holian)
Since the start of the year Sterling Euro exchange rates have had a difficult start hitting the lowest level to buy Euros since February 2015.
Economic data since December has also started to come out negatively which has also caused Sterling to hit its lowest level to buy US Dollars.
Chancellor George Osborne warned that the UK is in for a difficult year and there is a cocktail of risks ahead.
Later today the Bank of England meet to discuss interest rates and for a long time we have seen an 8-1 split with 1 member voting for a rate hike. If we see a change in the voting pattern and the vote change to 9-0 we could see further Sterling weakness vs the Euro.
With the BoE having already stated not that long ago that interest rates will not go up until 2017 and with inflation in the UK struggling then I expect to see some negativity from the meeting.
Indeed, the minutes published straight after are likely to show risks to the economy and this could see further weakness for Sterling.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
Alternatively call me on 01494-787-478 and I look forward to hearing from you.
Source: http://www.eurorateforecast.com/2016/01/14/sterling-euro-exchange-rates-poised-to-fall-owing-to-the-bank-of-england-tom-holian/
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