Friday, Mar 28, 2008
35pc chance of recession in UK
The Telegraph: Chances of full-blown UK recession risk rising
"The Bank of England may be forced to copy the Federal Reserve's lead and make dramatic interest rate cuts as Britain falls victim to a US-style slump, say experts at Lehman Brothers."
Get out of GBP and into gold. If GBP starts cutting IR then the ECB will be forced to as well as the euro surges even higher.
Posted by sold 2 rent 1 @ 08:50 AM (387 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. European-bear said...
"the country now looks in an eerily similar position to the US nine months ago, in the months before the credit crunch hit"
Only a 35% chance of a recession? I would say about a 99% chance....
2. alan said...
Reuters have just recorded a record low GBP vs Euro. Reuters cite housing data as the cause.
I wonder how high the ECB will let the Euro fly to before they intervene?
3. Icarus said...
That's a 65% chance there won't be a recession. What's that based on?
4. techieman said...
8000 Eur / £ and 1.60 Eur / $ look nice round numbers to me Alan, Am effectivly shorting the Euro on a daily lower low, unless there is a silly move up (exhaustion will get in then) or a silly move down (a la Gold) would then await a retrace.
5. bystander said...
Bet the BBC don't headline this latest bit of news. The last thing GB wants the public to know is that their holidays and imported wines will cost shed loads more this year, and the next and the next