Wednesday, Apr 25, 2007
Rates have peaked?
Firstrung.co.uk: House prices between Northern Ireland and the Republic are set to narrow according to the Bank of Ireland
"In the UK, Dr McLaughlin said, wage growth was sluggish and he expected interest rates to peak at 5.5%, not at 5.75% as the markets were predicting. On exchange rates he said that sterling was very stable against the euro - sterling had effectively joined the single currency. Consequently, the volatility of the euro/dollar rate had now transferred to sterling/dollar."
IRs have peaked and no collapse in Sterling....interesting.
Posted by shipbuilder @ 04:03 PM (181 views) Add Comment
3 Comments
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1. Shipbuilder said...
Just thought it was interesting that this guy seems to be setting himself up for potentially such a huge blow to his credibility.
It must be difficult to be an economist working for a bank - seriously, though - imagine having to stand up and say something for your paymasters that all your training and education tells you is wrong.
Perhaps he knows something we don't - isn't the reason Sterling is strong in the first place a result of expectation of further IR rises?
2. Scott said...
I love the UK. We are so corrupt!
3. Vicmac64 said...
Yeah yeah yeah!!!
Actually I agree, they are both going to fall to their true value (50% below where we are now!!!!!!!! and heres why ..... The US first, Ireland Second (yes it started some time ago), Spain as from yesterday is goin down, tomorrow who knows but I believe that the UK and Northern Ireland will follow. Interest rates will go up further, as will inflation..................
The whole of the EU and the UK and America are one trick ponies!!!!!!!!!!!!!!!!!!!! Housing - thats all we are good at now - so its only a question of time ---- Well done Tony, Bertie, George and all the rest of the 'can't count or think brigade'