When will the Bank of England raise interest rates in the UK? (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

The Bank of England recently voted to keep interest rates on hold with only one member of the MPC voting for a rate rise.

The previous expectation was for perhaps 2 maybe 3 of the members voting for a rate rise.

This saw Sterling fall against the Euro which had previously seen an 8 year high to buy Euros with the Pound.

UK inflation is a key indicator as to when the BoE will intervene and the next release is on Tuesday morning.

If the data shows a fall then this will push back the argument for raising interest rates and this could see Sterling fall against the single currency. My prediction for a rate rise in the UK is April/May 2016.

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]