Unemployment & Inflation

Yesterday’s unemployment figures showed a rise in the UK’s jobless total, although not as much as some analysts had feared.

The Bank of England’s quarterly inflation report was also slightly negative, with Governer King stating that UK interest rates are likely to remain low until 2011. The Pound is hampered by low interest rates, and dropped accordingly during King’s speech.

If other worldwide interest rates start to increase before the UK, exchange rates for sending money abroad could remain low throughout 2010.