Please see below for our International Finance News Archive
Sterling's continued slide against the Euro, which has seen the effective cost for Sterling denominated purchasers of a property in Mallorca rise by 10%, seems to be nearing the end according to the latest report from the RBS Bank.
Expectations of future interest rate cuts in the UK have added to the recent weakness in Sterling against most major currencies, including in the Euro, a trend anticipated to continue in 2008.
These are uncertain times in the world financial markets and while the real economies remain in reasonable shape the risk of the former impacting on the latter is real. It ssems to be very much a question of "watch this space".
With activity slowing in major economies around the globe it is looking increasingly likely that the current cycle of interest rates is moving into the downward phase according to the latest Interest & Exchange Rate Forecast from the RBS (See attached report.
Attached below is the April 2008 Sterling - Euro exchange rate commentary from leading currency specialists HIFX. An understanding of exchange rate movements is critical for Sterling denominated purchasers, and only small % movements could add significantly to the cost of purchase... More »
European Central Banks and the International Monetary Fund (IMF) joined in unison yesterday to highlight fears of inflation for global economic growth. Both the European Central Bank (ECB) and the Bank of England's Monetary Policy Committee (MPC) kept interest rates on hold in the face of persistent global inflationary pressures.... More »
The Euribor, the key reference rate for Spanish mortgages, finished April at 4.82%, the highest in 8 years, increasing annual repayments on an average mortgage by approximately 600€ p.a. ... More »
The latest RBS Bank Interest & Exchange Rate Forecast report highlights the continuing fall of Sterling against the Euro, a problem effecting all sterling denominated purchasers. ... More »
A recent article (see attached) in the FT highlighted the difficulties facing property buyers the world over - lower loan to value ratios and wider margins (higher interest rates) ... More »