Weekly Market Headlines:
The Bank of England held interest rates at 4.5% last week, with an 8-1 vote. They signaled a gradual and careful approach to future changes. Despite this, the BoE lowered its 2025 growth forecast due to weaker global economic performance and ongoing uncertainty.
Inflation data, set for release on Wednesday, is expected to come in at 3%, still above the BoE’s target, reinforcing their decision to keep rates steady. If inflation remains high, it could delay interest rate cuts, keeping GBP stronger against the euro. If you’re sending large sums of money abroad, even small changes in exchange rates could have a significant impact on the value of your funds.
UK GDP and retail sales figures are due at the end of the week, which could lead to volatility in Sterling exchange rates.
Get in touch with Lumon to speak to a dedicated currency specialist about your international money transfers. Call +44 (0)204 506 5672 to explore your options.
