Sunday, Nov 25, 2007
Uhm perhaps they will no longer cut rates
Observer: Rate cuts threaten to send pound sliding
If sterling slides interest rates will have to go up to support it!
Posted by who stole my pension? @ 05:51 PM (370 views) Add Comment
2 Comments
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1. alan said...
To be fair, the BoE has given a lot of notice about what it will be doing in the future (for right or wrong). Just after the announcement, the £ went down from $2.11 down to $2.04, recovering to $2.06 by close of play, Friday.
I would suggest the next 0.25% cut is discounted. It's already putting pressure on the Euro as most commentaries acknowledge. If another 0.25 cut happens early in 2008, then the pound would drop below $1.95. ....all other things staying unchanged, which they certainly won't!
Interesting times ahead.
2. the northerner living in oz said...
Begining to look like the U.K pound is shadowing the U.S dollar on its way down at the $1.95 to $2.05 range.