Prime Currencies Limited

According to all 72 economists polled by Reuters, the Bank of England (BoE) will cut its Bank Rate by a quarter-point on Nov. 7 to 4.75%, but a near-two-thirds majority expect no change in December, suggesting the BoE will stick to a cautious approach. Inflation in the UK, plunged to a three-year low of 1.7% in September from 2.2%, below the BoE's 2% target. That leaves room for the Monetary Policy Committee (MPC) to cut rates next week after pausing in September. Overall, the British economy is still performing well, with the prospect of an increase in investment from British finance minister Rachel Reeves' budget due tomorrow. #uk #ukeconomy #boe #bankofengland #pound #interestrate #inflation #borrowing #mpc #news

The Bank of England (BoE) has kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve. Following a regular meeting, BoE governor Andrew Bailey said the central bank needed "to be careful not to cut too fast or by too much", as UK inflation stays above its target. Policymakers had voted 8-1 for no change. Official data earlier this week showed UK annual inflation was unchanged at 2.2 percent in August from July - above the BoE's two-percent target rate. #boe #interestrates #inflation #news #updates

The rate of inflation stands at 2.2% in August, the Office for National Statistics said, unchanged from July. The announcement comes the day before interest rate setters at the Bank of England decide on the cost of borrowing. Markets are expecting only a 26% chance of an interest rate cut. But another measure of inflation ticked unexpectedly up - core inflation rose to 3.6%, even higher than economists had forecast. Bank officials closely watch core inflation as it gives a reading on price rises without elements like food and energy which are prone to rise and fall quickly. A rise in core inflation to 3.5% had been anticipated. An increase was also seen in services inflation which rose from 5.2% in July to 5.6% in August. This measures encompasses the culture and hospitality sectors. #news #updates #ons #inflation #boe #interestrates #uk #unitedkingdom #august #importer #smallbusiness #businessowner #costofliving

Sterling rose against the U.S dollar on Monday, after closing in slightly negative territory last week, ahead of this week's UK inflation data and central bank meeting. GBP has risen by 0.5% on the day to $1.3203, above the $1.3125 it recorded at Friday's close. The Bank of E is widely expected to keep interest rates unchanged this week after a 25-basis-point cut last month, although futures markets on Monday implied a greater chance for a rate cut of a quarter of a point, at about 38% versus 20% on Friday. Inflation figures, which are due out on Wednesday, will be a key set of data ahead of the BoE's policy announcement, after data from Britain's Office for National Statistics last week showed the economy stagnated unexpectedly in July. The European Central Bank lowered interest rates by 25 basis points last week and signalled a "declining path" for borrowing costs in the months ahead as inflation slows and economic growth in the euro zone dwindles. Against the EUR, GBP was flat at 84.35 pence. #gbp #eur #usd #gbpusd #usa #uk #inflation #interestrates #boe #ecb #economy #data #news #updates #reports #thisweek #comingup

GBP/USD reaches new 2024 highs around 1.3200, Dollar plummets The U.S dollar is now accelerating its decline and flirts with the area of 2024 low as Powell signals that it is time to adjust monetary policy. GBP/USD picks up extra pace and challenges the 1.3200 region (High of 1.3211), clinching new 2024 peaks at the same time. #usd #powell #import #importer #news #updates #reports #breaking

Receive, convert, and manage funds from employers, clients and suppliers through your own named multi currency account. Using one unique IBAN, this is ideal for e-commerce businesses allowing International customers and suppliers to pay in their local currency. Hold funds for as long as you wish in 38 different currencies. Receive and pay out in the same currency, or exchange into any other currency you need. For more information, please get in touch. +44 (0)1442 601082 #smallbusiness #global #globalclients #workingabroad #livingabroad #lifeabroad #workabroad #studyabroad #expatlifestyle #expatlife #relocation #movingabroad #expatliving #expat #abroad #finance #abroadlife #liveabroad #digitalnomad #expatfamily #workandtravel #expatriates #workingabroadlife #studyingabroad #career

GBP/USD hovers around 1.30 amid softer risk tone GBP/USD is holding gains to trade near 1.3000 in European trading on Tuesday, following a three-day winning streak. #usd #dollar #greenback #updates #ratealert

According to the latest forecasts, UK Inflation is expected to rise for the first time in 2024, tomorrow (August 14). Economists are pricing in the consumer price index (CPI) rate rising from the Bank of England's desired 2 per cent to 2.23 per cent in July. Since May, inflation has remained at two per cent following consecutive rate hikes from the central bank over the last two years. However, this trend looks likely to be reversed due to summer-related price hikes affecting airlines and hotels. This comes as Chancellor Rachel Reeves has pledged to revitalise the economy since taking over the Treasury after Labour's landslide victory last month. #cpi #labour #government #treasury #gbp #inflation #interestrates #hikes #sterling #uk #business #ukbusiness #smallbusiness #savemoney #boe #bank #bankofengland #summer #chancellor

The Bank of England has cut interest rates from a 16-year high, after a narrow vote in favour from policymakers divided over whether inflation pressures had eased sufficiently. Rates have been on hold for almost a full year - the longest period rates have been left unchanged at the peak of a BoE tightening cycle since 2001 - and this is the first cut in rates since March 2020, at the start of the COVID-19 pandemic. #interestrates #boe #bankofengland #costofliving #covid #ratecut #uk #unitedkingdom #borrowing #credit #import #export #smallbusinessowner #savings #inflation #news #reports #updates

This week’s focus will be on the Bank of England (BoE) interest rate decision on Thursday. Even if the BoE decide to hold rates until at least September, considerable interest will be taken in the commentary suggesting future plans and the overall voting split. Bets are 50/50 on whether this month’s meeting will see a rate cut or not. Over the last two weeks, increased speculation of a cut has put pressure on sterling and stopped the positive momentum that started at the end of April. However, some technical data still suggests a continued climb is likely. If the Bank of England holds rates again, we can expect the upward trend to re-establish itself. #boe #bankofengland #interestrates #uk #gbp #pound #borrowing #money #import #export #importer #business #businessowner #glob