How to Get the Best Exchange Rates (Matthew Vassallo)

Bank of England Minutes Mean Further Quantitative Easing Likely

GBP levelled off against the EUR during Wednesday’s trading, following a sharp loss in the markets yesterday. Tuesdays inflation figures were certainly not viewed as a positive by investors and this morning’s Bank of England (BoE) minutes also lead to some questions, as to which direction our economy will be taking over the coming months.

Whilst  the UK economy has been improving of late, our trade deficit remains alarmingly wide and this morning’s BoE minutes, indicated it is likely we will see further Quantitative Easing (QE) in the coming weeks. QE will often be used to kick start an economy that is stagnating but has not had the desired effect when used recently. In this instance it may be that QE is being lined up to help bring the Pounds value down, in order allow the Eurozone (our largest trading partner) to increase their trade levels once again. This in turn should narrow our trade deficit and move economy forward.

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