Yesterday morning we saw UK CPI (inflation) come out at 2.8%, as expected but higher than the 2.0% target level set by the Bank of England. Regarding the current situation in Cyprus the political leaders are meeting for emergency talks after they rejected the international bailout deal put forward by the ECB. The plans to charge a one-off tax on savings failed to attract the necessary support and if a bailout deal is not agreed there are fears banks could remain closed as if they are opened there could be a high risk of a bank run.
The main news for today will be focused around the 2013 Budget which George Osborne will release around midday; before this we will see UK jobless claims change for February and the unemployment rate for the three months leading up to January. The jobless claims are expected to fall by 5K and the unemployment rate is expected to remain at 7.8%.
This afternoon will see the release of the FOMC’s decision on whether or not to keep the base interest rate at the current level of 0.25% and no change is expected.
This Daily Market Update is brought to you by The Market Team @ KBRFX – Exchange Rate, Currency Conversion & Foreign Currency Transfer specialists.
http://www.remitterboard.com/
ReplyDeleteSending Money to India Just Got Awesome!.
An easy way to compare the exchange rate offered by various banks and get the best exchange rate when sending money to India.