Posts Tagged ‘UK’
UK GDP & BoE
Posted in Currency News Currency Updates by mporter
The Pound has recovered back above 1.20 against the Euro and continues to trade around 1.55 against the US Dollar on the interbank market.
Despite UK Gross Domestic Product (GDP) data showing that the UK economy contracted by 0.2% in the final quarter of 2011, the initial market reaction suggests that many expected the data [...]
Bank of England Quarterly Inflation Report & Eurozone Bond Yields
Posted in Currency News Currency Updates by mporter
Today’s Bank of England Quarterly Inflation Report has suggested that UK inflation has peaked and is likely to fall sharply from its current rate of 5% (down from 5.25% in the previous month September) to 1.3% over two years. The Bank has also cut its UK economic growth forecasts to 1% for 2011 & 2012 [...]
European Sovereign Debt Crisis
Posted in Currency News Currency Updates by mporter
The European sovereign debt crisis continues to pose a significant threat to the recovery of the Euro-zone and to the wider global economy. The €109bn bail-out agreed in July for Greece may have averted an immediate significant Greek default and contagion spreading to Ireland, Italy, Portugal, and Spain but the Euro-zone continues to face significant [...]
BoE and ECB
Posted in Currency News Currency Updates by mporter
The Pound has appreciated against the Euro following today’s Bank of England and European Central Bank (ECB) interest rate announcements. Both Banks kept their interest rates on hold at 0.50% and 1.50% respectively.
However, in the following ECB press conference, ECB president Jean-Claude Trichet struck a more cautious tone, warning that the Euro-zone economy will grow [...]
Currency Update
The Pound has slipped against the US Dollar and the Euro following comments yesterday from Bank of England Monetary Policy Committee member Martin Weale. Weale stated that the UK risked slipping back into recession and that in his opinion the Bank’s growth forecast of 2.8% and 3.2% for 2011 and 2012 may be too optimistic.
The [...]
BoE Minutes & UK unemployment data
Posted in Currency News Currency Updates by mporter
The Pound has fallen this morning following the release of Bank of England Minutes and UK employment data. The Pound now trades back below 1.14 against the Euro and below 1.64 against the US Dollar.
The Bank of England Minutes revealed that all nine members of the Monetary Policy Committee (MPC) voted to keep interest rates [...]
The Pound has remained stable …
Posted in Currency News Currency Updates by mporter
The Pound has remained stable following the release of July’s Bank of England Monetary Policy Committee (MPC) minutes, trading at 1.13 against the Euro and at 1.61 against the US Dollar on the interbank market.
The minutes showed that the MPC remains split, with 7 members voting to keep interest rates unchanged at 0.50% whilst 2 [...]
Sterling falls following dovish Bank of England
Posted in Currency News Currency Updates by mporter
The Pound has depreciated this morning (22/06/11) following the release of the latest minutes from the Bank of England Monetary Policy Committee (MPC). The minutes indicated that the Bank of England is less likely to raise interest rates this year, which makes Sterling less attractive to investors seeking higher yielding currencies*.
The minutes show that out [...]
UK Inflation
Posted in Currency News Currency Updates by mporter
The Pound has spiked higher this morning (17/05/11) following the release of higher than expected UK inflation data. The Consumer Price Index was up month on month at 1.0% and up year on year at 4.5%, compared to 0.3% and 4.0% respectively last month. UK inflation remains stubbornly above the 2% target and the Bank [...]
Interest Rates
Posted in Currency News Currency Updates by mporter
Today (07/04/11) as expected the European Central Bank (ECB) has raised its benchmark interest rate by 0.25% to 1.25%, the first such increase since July 2008. The Bank of England has kept interest rates on hold for the 25th month at their historic low of 0.5% and the Bank’s Quantitative Easing Asset Purchase Programme remains [...]
Search Our Site
Request A Call Back