Wednesday, Dec 19, 2007
Inflation Pressures Mount as Pound Falls
Market Watch: Pound trades back below $2 mark for first time in three months
Worries over weakening UK economy prompt Sterling sell off after BOE minutes released, the recession starts here so fasten your seatbelts for a bumpy 2008.
Posted by enuii @ 10:17 PM (573 views) Add Comment
8 Comments
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1. alan said...
A lower pound will make our exports cheaper to overseas customers. It will also make overseas holidays much more expensive. Fuel will cost more and the £ will buy less beer in Spain!
Time to book that summer holiday cottage in Dorset and hope it doesn't rain!
2. Winkle said...
theres money to be made in recessions and loads of if he he he
want to know how ....well insolvency work way along with pleanty of other ways
the game is keep thinking there is always a service doing well
3. planning4acrash said...
How long until this sends CPI above 3%?
4. Mikedx said...
This means it has dropped 8cents (I think) since the interest rate cut. Which is what.. 4%? that means surely that oil has just gone up 4% (watch those fuel pumps)..
Bet you cant wait until the next rate cut and we head back to $1.70, or even $1.50 and below per £, and a low £ to € to match.
£3 per litre petrol anybody?
5. Fedupwithhouseprices said...
Alan that sounds so nice. I live in Dorset so don't have to go anywhere. You've just made me appreciate my situation.
6. European-bear said...
OK pound down = inflation up
Interest rates down = inflation up
Property prices down.....urh, time to put property in the CPI
7. alan said...
All inflation figures are fixed - you should say.... "How long till the government want it to reach 3%" ?
8. wage slave said...
P4C CPI will never get anywhere near 3% you should know that by now.
The ONS will report CPI as whatever the government tells them to report it as.
Why ?
1. They report to the treasury.
2. They're probably all worried about their jobs:
http://news.bbc.co.uk/2/hi/business/6267087.stm