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UK Set for an Interest Rate Rise?

Interest RatesThere was something of a warning issued yesterday by Mark Carney who is the UK’s Governor of the Bank of England, for whilst in a meeting with MP’s sitting on a Treasury Select Committee he quite clearly stated that he is seriously considering proposing an interest rate rise, which would be the first since July 2007.

Whilst GBP is proving to be a very resilient currency on the Forex Markets and has shown continued growth for months, Carney did say that all UK business and households need to be aware that the current 0.5% interest rate will not be around forever and a rise is on the cards.

This statement however did, as you would have expected, have an immediate effect on some market sectors with one of the main sufferers being the house building market sector which saw some significant falls in regards to several companies share values.

Some of those affected the most were Barratt Developments whose share price fell instantly by 7p down to 634.5p, Persimmon also took a hit with 31p being knocked of their current share price which fell to 1983p and Taylor Wimpey took a hit of 2.9p lowering their share price to 189p.

Three other companies actively involved in the house building market sector whose share price took a hit yesterday after the statement by Carney were Bellway whose share were down 83p to 2305p and also Bovis Homes whose share price dropped by 35p down to 1118p and also the Berkeley Group whose shares dropped down to 3268p.

As a Forex trader you will be aware of the strength of Sterling at the minute and with an interest rate rise now looking a certainty in the UK in the very near future then you are likely to see a continued rise in regards to GBP more so again the Euro.

However, if you are a Binary Options trader then keep your ears and eyes peeled for any additional snippets of information you can pick up from the UK’s Treasury, for as soon as the expected interest rate rise happens then a whole raft of different shares are going to be moving in one direction or another.

For reference you are going to be able to place a wide and varied range of trades at all of the featured UK Brokers listed on our website who offer Binary Options trading opportunities along with live Forex markets.