Interest and exchange rate forecast - September 2012

Interest and exchange rate forecast - September 2012

Out with the old and in with the new: That was the outcome of the European Central Bank's (ECB) September meeting.

Economic Analysis

11 September 2012

While interest rates were left unchanged, the ECB President announced a new bond buying programme aimed at supporting troubled Eurozone governments. This replaces the ECB's old bond purchase scheme, but with a key difference - conditionality, which means countries have to stick to the rules or they don't get the money. It is hoped this new programme will restore some much needed confidence in the Eurozone.

While the Bank of England left monetary policy unchanged at its recent meeting, it looks like we will see further quantitative easing in the US when the Federal Reserve meets next week.

Interest and exchange rate forecast - September 2012 (75KB)

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