There was a 9-0 vote against further Quantitative Easing this morning for the Bank of England which came in against expectation and the previous month. In June the vote was 7-2 against QE yet this month two members changed their mind to a 9-0 vote against. This came in as a surprise as many analysts expected at least the same result. This led to Sterling gaining against the Euro having touched overnight at a 4 month low against the single currency.
Previous BoE Governor Mervyn King voted for further QE at his last meeting but Mark Carney has decided at least for the time being to keep QE at bay. Sterling has strengthened across the board since the announcement and has come as a welcome surprise for anyone with a Sterling Euro currency transfer to make. Exchange rates have improved against the Euro by 1% since the low during today’s trading session or the difference of €1,150 on a currency transfer of £100,000.
If you are considering buying Euros and want to save money on exchange rates then feel free to contact me directly via email Tom Holian [email protected]