Today saw the release of two of the months major market movers - The interest rate decisions for the Bank Of England and European Central Bank at 12;00 and 12:45 respectively.
Both central banks decided on a 50 basis point cut and at the time of writing this update Sterling had gained 0.37% against the Euro. This would make a difference of nearly £500 on a €150,000 purchase which is certainly not something to be laughed at in the current climate!
The BOE have also released their plans to pump a further £75 Billion into the economy in another bid to turn around this deep recession that we have found ourselves in, this has not yet had a great effect on the strength of the pound but surely it can only be seen as a bad thing in the short term, so if you have an upcoming currency requirement please feel free to get in touch on the links below and I will happy to assist and guide you through whatever currency transaction you are looking to do.
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
No comments:
Post a Comment