Bank of England set to influence Sterling Swiss Franc Rates

Bank of England set to influence Sterling Swiss Franc Rates
May 10
07:28 2018

The most eagerly anticipated data release is due today with the Bank of England due to hold their latest monetary policy decision at lunchtime today.

Up until a fortnight ago the anticipation was that we’d see an interest rate hike this month however since then we have seen a number of negative data releases which are likely to keep interest rates on hold at today’s meeting.

UK GDP came out at its slowest pace in 6 years and Construction and Services data have shown signs of a real slowdown so an interest rate hike at the moment appears highly unlikely.

However, average earnings have outpaced inflation for the first time in a long time and therefore I think the UK can cope with a rate hike soon so if the votes show a change in the 7-2 voting pattern at the previous meeting I think we could see the Pound make some gains.

At 1230pm Bank of England Governor Mark Carney will hold a press conference which will confirm the reason for the decision and this is the time when we could see a lot of movement for exchange rates.

Therefore, if you’re in the process of making a currency transfer then it would be worth keeping a very close eye out on exchange rates as today could potentially be a very big day for GBPCHF exchange rates.

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am able to offer you bank beating exchange rates as well as helping you with the timing of your transfer.

For a free quote then contact me directly by calling 01494787478 and asking for Tom Holian when calling or email me directly with a brief description of your currency requirement and I look forward to hearing from you.

Tom Holian

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Tom Holian

Tom Holian

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