Economic Update 16 Sep 2024 8 minute read
Two major Central Bank Meetings this week
The European Central Bank met last week and cut interest rates by 0.25%, bringing the headline rate down to 3.5%. This move was widely anticipated in markets due to lukewarm economic growth and lower rates of inflation...
Economic Update 16 Sep 2024 9 minute read
GBP strengthens after BOE holds rates
Last week, sterling hit 30-month highs against the US dollar and 25-month highs against the Euro, as the Bank of England (BoE) voted 8-1 to hold the bank rate at 5.00%. BoE Governor Andrew Bailey justified the unchanged rate, stating that it is "vital that inflation stays low" and that the BoE needs to "be careful not to cut [rates] too fast or by too much." This came a day...
Economic Update 09 Sep 2024 5 minute read
ECB poised for second rate cut this year
This week marks the beginning of the latest round of interest rate decisions, with the European Central Bank (ECB) poised to cut rates for the second time on Thursday. The Bloc’s central bank is expected to cut its refinancing rate from 4.25% to 4%, likely making it the most significant market event of the week. After cutting rates in June for the first time since...
Press Release 05 Sep 2024 14 minute read
Another year of record earnings from sustained revenue performance and operational excellence
Moneycorp’s global reach and local execution with tailored solutions supports clients to navigate the world of global payments
Economic Update 02 Sep 2024 6 minute read
Sterling continues to strengthen against major currencies
GBP continues to maintain its strength following the recent surge compared to other major currencies, most notably USD and EUR. With the US dollar under intense pressure due to upcoming interest rate cuts in mid-September, the pound has been the currency of choice for many investors. Prime Minister Keir Starmer's meeting with German Chancellor Olaf Scholz last week signalled the new...