Minutes Released by Bank of England
28 July, 2011
The Bank of England’s MPC meeting minutes were released this morning – showing a 9-0 vote in favour of the shock 1.5% interest rate cut earlier in November.
Worryingly, for those of you buying foreign currency, they even considered a bigger cut.
Interest rate cuts are generally bad news for the currency concerned – so further rate cuts in the UK could see Sterling fall even further.
If you need to transfer money overseas, particularly if getting the best Euro exchange rate is your priority, make sure you speak to a specialist foreign currency broker rather than leave your transaction to chance.
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