Wednesday, Sep 26, 2007
Sterling slumps to lowest level against the Euro since early 2005. Where is Sterling heading now??
Reuters: Euro rises to 70.23 pence, highest since Jan 2005
LONDON, Sept 26 (Reuters) - The euro rose to its highest level versus sterling since early 2005 on Wednesday, with the UK currency staying under pressure on concerns about the health of the British banking sector and possible interest rate cuts.
Posted by sovietuk @ 11:44 AM (322 views) Add Comment
3 Comments
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1. marcus b said...
Good news, the more the currency falls the more the BofE will worry about imported inflation the harder it will be to cut rates...
2. Orwell said...
Prime Minister (Crash Gordon) Brown , Unelect, doesn't give a **** about the economy he's ****** up anyway!
He will lower rates despite inflationary pressure and the weakness of the pound both of which suggest much higher rates.
Read my lips. The guy wants to go to the elctorate and the electorate are very stupid in this country. They will vote with short term perception of the economy. They won't give a toss about the risk of it all going down the toilet next year, and anyway he has 5 years then to 'sort it out'.
3. wiltshire said...
Of course Liebour will win the next election. Mainly because I don't think the public have any real perception of the fact the whole economy is on a knife edge. Unfortunately for Gordon I think he's going to be in for a very nasty ride during his first term and it will take him a lot longer than 5 years to sort this mess out.