By Tom Higham

In one of the most highly anticipated data releases of recent times the Bank of England decided to increase the Quantitative Easing (QE) policy by £25 billion pushing the total amount the central bank have pumped into the economy up to £200 billion. The aim of the QE is to stimulate the UK economy and help generate growth but many analysts are concerned that this huge amount of money is only going to increase the long term debt of the country.

Whether or not the added QE means the UK will be in debt for many years to come hampering long term growth it has led to Sterling gaining some ground in the currency market not only today but in the build up over the past week. The markets are likely to remain volatile following this decision and we will now need to assess further data releases to see whether the UK is coming out of recession anytime soon.

If you need to send money overseas then make sure you stay in touch with your currency broker who will keep you informed of market movement and the all the options open to you to help you get the best exchange rate.