Online:
Visits:
Stories:
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

UK Inflation Falls to Record Low (Matthew Vassallo)

Tuesday, January 13, 2015 4:34
% of readers think this story is Fact. Add your two cents.

(Before It's News)

UK inflation figures were released this morning and showed a sharp fall to 0.5% in December. This equals the lowest figures on records according to the Office for National Statistics (ONS) and will trigger a letter of explanation from Bank of England (BoE) governor Mark Carney to the chancellor.

This level falls some way below the BoE’s target of 2% and a major cause for the drop is attributed to lower fuel prices. However, chancellor George Osborne hailed the fall as good news and the markets have taken it in their stride with little additional movement caused on either GBP/EUR or GBP/USD exchange rates.

With little economic data of note for the UK for the rest of the week, we may find the Pound struggles to gain much momentum from its current position, particularly against the EUR. GBP/EUR has reached the current levels a handful of times over the past 12 months and each time it has the EUR has found support and spiked back towards 1.25. The key date in investors diary will be the ECB monetary policy decision on January 22nd, where we could see full scale Quantitative Easing (QE) initiated by the European Central Bank (ECB).

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on [email protected]



Source: http://www.poundsterlingforecast.com/2015/01/13/uk-inflation-falls-to-record-low-matthew-vassallo/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.