UK Inflation figures published this morning have shown a sharp rise to 2.7% in October compared to the expected 2.3%. According to the Office for national Statistics CPI rose owing to an increase in both tuition fees and food prices. Wet weather has meant less food production which in turn has seen prices rise. the retail price Index also rose to 3.2% from 2.6%. The Treasury have said that the figures are disappointing but to me i think it may provide a short term boost for the Pound as it means the Bank of England may not need the next round of QE for some time to come so if you have a GBPEUR currency exchange to make feel free to contact me directly via email Tom Holian email@example.com
The Greek Issue seems to again be calming down as the government has been able to see just over €4bn worth of treasury bills. This money is due to pay off old treasury bills due to be repaid on November 16th, this Friday! In recent weeks Greece has once again been in the spotlight but to me I feel that as Greece is such a small part of the entire GDP of the Euro zone that it will not default as more money will be ploughed into the country in order to avoid shock waves being felt across the entire continent. Last Sunday Greece voted for further pension cuts and wages, another measure put in place in order to receive the next tranche of the bailout. At the moment Greece’s debt to GDP ratio is 190% and may continue to 2020 before it can significantly reduce the problem. There have been a few discussions about Greece and its ability to reduce its debt by 2020 and some countries have suggested it to be changed to 2022 but the IMF have said that the 2020 date should remain.
For further up to date news on GBPEUR exchange rates feel free to email me Tom Holian firstname.lastname@example.org