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Interest rates held in Eurozone
03 May 2012

The European Central Bank (ECB) today has held interest rates at 1% as expected. Sterling has remained relatively stable through trading today against the Euro and most other currencies, despite worse-than-expected services sector growth announced in the UK economy.

Lower European producer inflation and worse US manufacturing than expected have kept the Euro and US Dollar trading weakly, maintaining the strong exchange rates for sterling that we have been enjoying for the past week or two.

Tomorrow we have Eurozone retail sales and US unemployment figures, as well as Australian monetary policy and Swiss retail sales too, before we head into the long weekend.

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