UK Unlocking: How Does This Impact Your Business?

At the time I started writing this article, the UK was set to be fully ‘unlocked’ over the next few weeks. With recent developments, this goal is looking less secure and, as a result, the ideas in this piece are only made more poignant. Business owners, economists and remote workers are waiting with bated breath, as we return to normal. What does this mean for foreign exchange and, more importantly, how does this affect your business? The Bank of England’s (BOE) target inflation rate plunged from 2% to 0.7% in the past year. It makes sense, then, that the two years of little to no economic growth is forced to recoup. The lower the interest rate, the less motivation there is to keep money in the bank, so you know what 0.1% means: time to go shopping! Quantitative easing - another tool to adjust inflation - is also being kept at a stable level by the BoE. The bank reported that the ‘amount of quantitative easing [will be kept] at £895 billion.’ Further push for growth has finally shown physical results. It has been widely argued that the UK's ability to strike its own trade deals is one of the big benefits of Brexit. If you want more spending, giving the public access to cheaper food and the opportunity for wider Asia Pacific trade is certainly a start. I am, of course, referring to the proposed Anglo-Australian trade deal, in the pipeline. The BoE predict that inflation will return