The Bank of England made an emergency interest rate cut this morning – the first in over a decade. This comes ahead of Rishi Sunak’s first budget being announced this afternoon. He is expected to introduce a major increase in borrowing and more spending on infrastructure, health and the environment.
With Italy’s quarantine extended to cover the entire country, fears over the future disruption of coronavirus to supply chains and business continue. Other countries have begun to implement further measures, with Austria stopping anyone entering the country from Italy without a medical certificate.
Donald Trump said yesterday that he is expecting ‘major’ steps to boost the US economy, raising hopes of a spending package to mitigate the potential impact of coronavirus.
It’s easy to take simple steps to protect your money against this uncertainty. Discuss with your Personal Trader about locking in an exchange rate with a forward contract, so that you always know how much your money is worth. Speak to us today on 020 7898 0541 to get started.
