Raboabank: GBP/EUR Course will be 1.18 in a month

The latest exchange rate forecasts from Raboabank* indicate that the GBP/EUR rate will be 1.18 in a month's time.

This indicates the short-term stability of the pound. However, the forecast then softens slightly, with GBP/EUR expected to fall to 1.16 on both the three- and six-month horizons.

Further slight depreciation is forecast to 1.15 in nine and twelve months, indicating cautious expectations for the pound's exchange rate against the euro over the course of the year.

Rabobank raised its medium-term euro forecasts following a marked shift towards more expansionary German fiscal policy, particularly in defense and technology.

*Rabobank -the Netherlands Cooperative Bank, the second largest bank in the country after ING. Headquarters in Utrecht, the main operating center in Amsterdam. It specializes mainly on the agro -industrial sector and processing industry. Representations in 38 countries.

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