Bank of England Minutes due this morning weak day for the Pound yesterday…
An important release this morning for the U.K and indeed the Pound, we see the Bank of England minutes out at 09:30am and these are key for how we see the Pound perform over the coming few hours. We will find out just how many members of the BOE voted in favour of interest rates to be left on hold and what the vote was for further QE (Quantitative Easing) to be introduced.
Should it have been a tight decision this may be seen as slightly positive for the Pound as it suggests that we may not see more further down the line for some time, however if there was a major majority that had become in favour then we could be prepared for more QE in the future.
My personal feeling is that the minutes will not throw up any major surprises this morning however it is about time the Bank of England threw in a curveball as it has been a while, Mervyn King did speak yesterday surrounding the global economy and as seemingly always managed to weaken the Pound slightly so be prepared for absolutely anything to happen in this mornings trading.
If you are in the process of buying property abroad and want to achieve the best rate of exchange for your purchase then please do feel free to contact me directly djw@currencies.co.uk and I will be more than happy to assist you.
