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Why GBP is a 'good place to be' amid global growth fears

In the midst of global growth fears and tumbling stock markets, the UK keeps powering through with its economic recovery. Recent data showed UK unemployment dropped below two million for the first time in almost six years. Britain will still be the fastest growing economy in the G7 this year

However, data out on Tuesday showed that UK inflation fell to a five-year low of 1.2% in September. This sent the pound lower as analysts now think a rate rise is not likely until next year. The Bank of England (BoE) has said that any rise in interest rates from their historic lows will be dependent on economic data, especially wage growth.

But Nick Beecroft, Chairman of Saxo Capital Markets, reckons that things will start to turn around for sterling, and that we've hit a bottom when it comes to sterling lows against the euro. He thinks as we go forward, the pound has plenty more to offer.

02:30 minutes
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