ECB cuts growth forecast. (Dayle Littlejohn)

GBP EUR Slumps Despite Higher UK Employment

This afternoon sterling has made ground against the euro (over a cent) as President of the European Central Bank, Mario Draghi, cut inflation and growth forecasts for 2015 and the upcoming years.

Draghi expects inflation will remain very low and possibly fall into deflation over the upcoming months. The desired inflation rate that Draghi is targeting is 2%. The recent eurozone inflation report released earlier this week came in at 0.2%.

I expect GPB/EUR exchange rate to finish the week in the 1.37s as there is minimal economic data releases tomorrow.  (Interbank level at present 1.3728.)

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. Dayle Littlejohn [email protected]