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Good news for buyers in France

Created: Friday, 09 February 2018 Written by Katherine O`Neill

In a speech yesterday, Mark Carney, governor of the Bank of England, said that if the UK economy continues "on track", it is likely that increases in UK interest rates will come more quickly than previously indicated.

As a direct result, the Pound increased in value against the Euro and the Dollar by around 1% to just over 1.14.

According to the BBC: "In November, the Bank raised the cost of borrowing for the first time in more than 10 years - from 0.25% to 0.5%. Its forecasts at the time indicated there could be two more increases of 0.25% over three years. But it now appears there could be a third increase and those rises could be sooner than expected."

Since September the exchange rate with the Euro has been steady in a band between 1.10 and 1.15.

A breakout above 1.15 could lead to 1.20. This would serve to make prices of properties in France even better value than they are already.

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