Mario Draghi sent a clear message at Thursday’s European Central Bank (ECB) meeting that the ECB is ready to do all it can to support Eurozone growth. Mr Draghi opened the door for the use of all monetary policy instruments necessary to bring inflation back to target, including a further cut in interest rates or an extension to the existing quantitative easing programme. The pound has already pushed up over 2 cents against the euro following the news.

The move in the euro reflects that we’ve moved on from the question of “if” the ECB will add stimulus, to the key question of “what” stimulus will be used in December. The markets will be watching the overall data flow with interest, and will assess the downside risks to economic growth and inflation in Europe between now and December.

The fall in the euro offers a great opportunity to anyone looking to transfer pounds into euros, with the best exchange rate in two months available.

Talk to one of our dedicated currency specialists to help you make your transfer at the right time, so you make the most of your money. We can give you a quote on the spot, or help you to monitor the markets, so that you’re one step ahead.

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Information courtesy of Currencies Direct
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