What will the Bank of England do next.

The Pound awaits Fed and BoE rate decisions…

A choppy market over the past week for the major currency pairs.

It’s likely a pause for breath before this week’s big news…

Later today the US Federal Reserve is due to meet.

With US inflation back down to 2.5%, a 0.25% cut in rates looks likely. Some analysts are suggesting 0.5% is possible as the Fed has been slow out of the blocks.

At Thursday lunchtime, it’s the Bank of England’s turn in the spotlight.

An interest rate cut in the UK is not likely but with economic growth flatlining it may cause the Bank of England to think long and hard.

The interest rate decisions and forward guidance over the coming days may be enough to trigger a break-out of the current narrow trading ranges.

If you don’t want to take the risk, you can always lock-in an exchange rate now.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

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Current rates:

Wednesday 18th September 2024 at 11:00

£1.00 GBP = 1.1875 EURO

£1.00 GBP = 1.3325 USD

£1.00 GBP = 1.9490 AUD

£1.00 GBP = 2.1245 NZD

£1.00 GBP = 1.7970 CAD

£1.00 GBP = 1.1150 CHF

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