Market insights

ECB Slashes Rates To Support Economy

The headline from yesterday was main refinancing rate for the ECB which was cut by 0.6%. This was against an expected 0.25% cut.

The ECB press conference held later in the afternoon confirmed that the Eurozone economy needs a shot in the arm.

GBP/EUR gave the Pound the upper hand in that particular fight.

All of this could be a precursor to a massive week next week for news.

There's UK inflation, US interest rates and UK interest rate on the table for this time next week.

However there's plenty to get teeth into ahead of all that with the US Michigan consumer sentiment index reported later before Chinese retail sales numbers in the early hours of tomorrow.

Business news has taken on a gloomy feel again with the spotlight being on the OBR's prediction that UK Government debt could triple over the next 50 years.

Get your free quote now

Economic calendar

US: 15:00 Michigan Consumer Sentiment Index

CHN: Saturday 03:00 Retail Sales

As ever we look forward to keeping you in the loop and look out for our next update.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

Open a free account

It is free and easy
Register