Sterling Euro exchange rates stayed relatively range bound today as the Bank of England confirmed 8-1 in favour of keeping interest rates the same.
This came as no surprise to me as Ian McCafferty did the same last month and clearly he has an appetite for a change in monetary policy.
Indeed, the UK recovery is now in full swing so there are some who think the UK could cope with a rate rise but for me I don’t think the BoE will do anything until the Federal Reserve raises rates.
The next meeting for the US takes place on September 17th and if they raise rates this could signal Dollar strength and Euro weakness leading to some excellent opportunities to buy Euros this month with Sterling.
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]