Raising Speculation of Higher Interest Rates

UK Inflation Sticks at 3.0% in January Raising Speculation of Higher Interest Rates

On Tuesday, economic data showed that the UK’s inflation level remained at 3.0% in January, spurring hopes the Bank of England (BoE) would need to look at adjusting its monetary policy stance. Some economists are suggesting the central bank could look to hike interest rates as soon as May.

This comes after the BoE recently stated that interest rate rises might happen sooner than markets expect. The data shows the cost of living squeeze is still stretching households with wages lagging behind consumer price growth.

The Office for National Statistics commented on the data, saying:

"The largest downward contribution to change in the rate came from prices for motor fuels, which rose by less than they did a year ago. The main upward effect came from prices for a range of recreational and cultural goods and services, in particular admissions to attractions such as zoos and gardens, for which prices fell by less than they did a year ago."

Economists had predicted UK consumer prices would decline from 3.0% to 2.9% in January after a fall from 3.1% to 3.0% in December. November’s 3.1% had been a five-year high. The pound is currently trending higher against the US dollar (GBP/USD) and euro (GBP/EUR) on the news.

Current rates:

Tuesday 13th February 2018 at 11:45

£1.00 GBP = 1.1226 EURO

£1.00 GBP = 1.3875 USD

£1.00 GBP = 1.7661 AUD

£1.00 GBP = 1.9059 NZD

£1.00 GBP = 1.7481 CAD

£1.00 GBP = 16.5647 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a good start and knowing the events coming up that may influence the exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets will always fluctuate, but last year saw unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen and look ahead to the issues that could affect currency markets in the next quarter and throughout 2017.

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Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

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