Sunday, April 6, 2008
Banks to receive more cheap money
This is quite a good article, especially the bit about CPI not including HPI, but Teresa Hunter completely forgets to mention the dire state the currency would be in, if such massive rate cuts happened, maybe she holidays in the Scottish lochs but for all who eat, use, sell imported goods or travel in the eurozone it is all going to get very, very expensive. UK tourism is about to get very, very busy. Influx of eurozone tourists, making the most of their exchange rate and UK households who cannot afford to go th the Costas or Tenegrief, so buy a hotel or two. This may be the only section of the UK hosing market which bucks the trend, at least until sterling recovers, or we begin to use the euro.