Money Transfer.co.uk
Compare money transfers, currency exchange and international transfer
Sat 21 Dec 2024 14:05GMT
Compare Money Transfers. Safe. Fast. Free.
A money transfer through a foreign exchange broker is the smart move. With excellent exchange rates and fee-free transfers, you could save time and money.
I need to send money...
The pound endures a difficult day yesterday
Published: 22 May at 1 PM Tags: Pound Sterling, Euro Exchange Rate, Canadian Dollar Exchange Rate, Euro Crisis, Yen Exchange Rate, UK, Economy, Inflation,
The latest UK inflation data published yesterday showed that the UK consumer price index fell from 2.8% in March to 2.4% in April 2013 according to the Office for National Statistics (ONS). The consensus estimate had been for an increase of 2.7%.
Whilst some welcomed the news, it also increased speculation that the Bank of England may have more room for manoeuvre in increasing the size and scope of its asset buying Quantitative Easing (QE) program in the months ahead to the detriment of the pound sterling.
Commenting on the latest inflation data, analysts at Barclays commented that "If this lower inflation profile is sustained it should provide a welcome fillip to the economy. It lessens the chronic squeeze on real pay and should help support domestic demand. In addition, with inflation less egregiously adrift of the 2% target, the Bank of England has more leeway to boost policy should the recovery falter."
The ONS also reported yesterday a rise in UK house prices. Prices for new homes in the UK increased by 2.7% in the 12 months to March 2013, accelerating from a 1.9% increase in the year to February but this average masks some big regional differences as data showed that house prices in England grew by 3.0%; in Wales by 1.2% but house prices declined by 1.7% in Scotland and by 2.0% in Northern Ireland.
Even within England, the data showed 3.3% growth in the South East, including a 7.6% rise in London.
Today sees the publication of the minutes of the Bank of England’s last policy meeting at the beginning of this month; the latest Public Sector Borrowing Requirement data and after hours, in the US it is the turn of the US Federal Reserve to publish the minutes from its last meeting.
Overnight, the Bank of Japan held off from further increasing its aggressive monetary easing policy judging that the huge stimulus unveiled in April will be enough to spur price gains in the world’s third-largest economy. The Bank of Japan also stated in its policy announcement that the Japanese economy has "started picked up".
In his last policy statement as head of the Bank of Canada, Mark Carney, who is due to replace Sir Mervyn King as the Governor of the Bank of England on 1 July said that Europe could face a decade of stagnation if it does not take the kind of bold measures seen in Japan.
Whilst some welcomed the news, it also increased speculation that the Bank of England may have more room for manoeuvre in increasing the size and scope of its asset buying Quantitative Easing (QE) program in the months ahead to the detriment of the pound sterling.
Commenting on the latest inflation data, analysts at Barclays commented that "If this lower inflation profile is sustained it should provide a welcome fillip to the economy. It lessens the chronic squeeze on real pay and should help support domestic demand. In addition, with inflation less egregiously adrift of the 2% target, the Bank of England has more leeway to boost policy should the recovery falter."
The ONS also reported yesterday a rise in UK house prices. Prices for new homes in the UK increased by 2.7% in the 12 months to March 2013, accelerating from a 1.9% increase in the year to February but this average masks some big regional differences as data showed that house prices in England grew by 3.0%; in Wales by 1.2% but house prices declined by 1.7% in Scotland and by 2.0% in Northern Ireland.
Even within England, the data showed 3.3% growth in the South East, including a 7.6% rise in London.
Today sees the publication of the minutes of the Bank of England’s last policy meeting at the beginning of this month; the latest Public Sector Borrowing Requirement data and after hours, in the US it is the turn of the US Federal Reserve to publish the minutes from its last meeting.
Overnight, the Bank of Japan held off from further increasing its aggressive monetary easing policy judging that the huge stimulus unveiled in April will be enough to spur price gains in the world’s third-largest economy. The Bank of Japan also stated in its policy announcement that the Japanese economy has "started picked up".
In his last policy statement as head of the Bank of Canada, Mark Carney, who is due to replace Sir Mervyn King as the Governor of the Bank of England on 1 July said that Europe could face a decade of stagnation if it does not take the kind of bold measures seen in Japan.
Advertisement
Source: moneytransfer.co.uk