This week has not been a good one for the Pound Sterling. As it turns out, the currency continues to lose its value out of bears the Bank of England will create a stimulus package. If the Bank of England has anything to say in the matter, they will introduce further monetary easing in August of 2016. As a result, the GBP continued its weekly decline streak, losing another 3.1% this week.
For the past few weeks, the Pound Sterling has been losing some of its value every week. This trend will continue for quite some time to come, by the look of things. Especially now that Bank of England has warned they may be forced to enact further monetary easing later this year. The Brexit did not help matters much either, sending the GBP down even further.
Bank of England Causes A Stir
As a result of this new monetary easing program, the Bank of England will need to cut rates as soon as next month. This would mean that banks who are not yet dealing with negative interest rates will be coming fairly close to this threshold. Moreover, those who already offer negative rates will