By Alex Ellis

Sterling has suffered somewhat this morning as the expectation for an extension to the Bank of England’s Quantitative Easing programme gradually begins to pick up pace.

The Bank of England is due to announce their interest rate decision today and many analysts are expecting the rates to be kept on hold at the record low of 0.5%. This has been seen as a negative as it is a further sign that the Bank of England’s long term outlook is not a positive as first thought.

Towards the end of the year the coalition budget cuts will come into play and as rates are already beginning to stumble, the impact of these cuts could be much more severe than first thought.

If you have an upcoming currency requirement it may be worth conducting your exchange sooner rather than risking the rates drop even further.