The Bank of England has voted the same for the last 35 months in a row with a 9-0 vote in favour of no change. However, there have been recent signs of an interest rate rise coming sooner than the market currently expects.
If the announcement due shortly shows any change I think we could see a big positive movement for Sterling exchange rates against the Euro.
The European Central Bank interest rate decision is due at 1245pm and with inflation still running worryingly low I think the press conference due to be held later could see Euro weakness if Draghi’s comments are negative.
If you have a currency transfer coming up and want to compare exchange rates compared to using your bank or currency broker then contact me directly Tom Holian [email protected]
This afternoon’s prediction Sterling Strength!