- From the UK comes the news that the Bank of England backed away from stepping up its program of government bond buying on as the economy starts showing signs of growth with expected increase in lending.
- On the EU front - European Central Bank President Mario Draghi said that the ECB was primed to buy troubled Eurozone bonds when conditions were right and that this had already calmed financial market tension - hopefully this remains true.
- Still in the EU - The Euro had gained strength because it seems the ECB were to progress with financial stimulus and calm the nerves of investors. Remember there was no rate cuts or monetary easing, the ECB president said he was “Primed to buy troubled Euro bonds when conditions were right.” The fact he mentioned this has helped the Euro maintain its gains across the board.
So time to use your Euros or UK pounds and invest in SA so transfer money to SA.