By Alex Ellis

Today sees the Bank of England release the minutes from the most recent meeting they held; during this it was decided that interest rates would be kept on hold at 0.5% for the 8th consecutive month. One member Andrew Sentance has votyed for an interest rate hike for the last 2 months and it will be interesting to see if any of his colleagues share his opinion.

When it was first announced in June that Sentance was in favour of a hike we saw sterling strengthen massively against the Euro as it was the first sign of stability in the UK economy. If we were to see one of the other members of the MPC agree with Sentance then we should see rates strengthen in sterling’s favour. Of course if the opposite were to be true then we may see some sterling weakness and this could be across the board. The release is at 09:30 this morning so use Currency Line to find out what impact this may have had on your currency purchase.