Will The ECB Take Action Today? Could The Euro Drop Further? (Colm Gilhooly)

We have the latest ECB announcement and press conference today there is a strong possibility the ECB will embark on a much anticipated asset purchase program to try and boost inflation and growth in the Eurozone.  Recent inflation figures published this week were once again disappointing and have done little to dispel the chances of the ECB acting, indeed the Euro has struggled in the last few weeks as markets part price in this expectation.  No move from the ECB could see the Euro strengthen back quickly (likely a temporary reprieve though as pressure will build again), however if they do start purchases we could see the Euro slide further.

UK news in the last couple of days hasn’t been brilliant with the loss of the AAA rating from Moodys and Manufacturing PMI coming in lower than expected, but the main driver of GBP EUR rates will be the ECB decision today.  If you are buying or selling Euro, then today’s news will be key; if you need to make a currency transfer and want to get the best exchange rate then feel free to contact Colm at cmg@currencies.co.uk and I would be happy to explain how our services work.