This data came out pretty much as expected so therefore didn’t have any major affect on the markets, however the head of the ECB – Jean Claude Trichet spoke shortly after the ECB decision, saying that they would be looking at small hikes in their rates next time round in order to try and cut their inflation, leading to analysts saying there is a 65% chance of a hike next month.
This instantly moved the markets and strengthened the Euro, as many of you know when an interest rate is increased it has a positive effect on the currency concerned and on the other side a cut has a negative one.
If you do have pending Euro purchases please feel free to get in touch and discuss the options available to you to secure your rate for a small deposit, or purchase them early on a spot contract in case the rate does continue to drop away over the coming weeks and possibly even months as it could end up costing an awful lot of money.
This is a brief summary of todays report. Click here to read the full report on our main website
If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me
Have a great day and thanks for reading!
Daniel Wright
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