Downbeat inflation report

28 July, 2011


Yesterday’s quarterly Bank of England inflation report predicted a “choppy” recovery ahead for the UK, with interest rates low for some time, and the possibility of more quantitative easing in the future.

Coming after an increase in long-term unemployment was announced, the Pound fell yesterday against most currencies, although curiously the weakening Euro has actually provided an improvement in rates for buying Euros over the last 24 hours.