Interest Rates ( U.K )
Interest Rates ( U.K )
BREAKING: The Bank of England Monetary Policy Committee votes unanimously to raise interest rates to 0.75%
Re: Interest Rates ( U.K )
And, after a brief rise immediately after the announcement, the pound closed about 10 satangs down on the day. Needs more than a 0.25% rise to change anything.
- JimboPSM
- udonmap.com
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- Joined: July 4, 2005, 3:23 pm
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Re: Interest Rates ( U.K )
As Rick correctly pointed out, there was a brief moment in time after the interest rate increase announcement when the GBP rose but, it was only that, a brief moment in time...... and then the GBP fell against pretty well every other currency.
However, where Rick is incorrect is in assuming that it needs more than a 0.25% rise in the interest rate to support the international value of the GBP.
When there is no credible and viable economic plan, it really doesn’t matter how much (or how often) the interest rate is increased – it will not support the international value of GBP.
One part of the international value of any currency is the discounting of its future value and, with economic suicide just around the corner, the international currency markets are simply valuing the GBP accordingly.
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Ashamed to be English since 23rd June 2016 when England voted for racism & economic suicide.
Disgusted that the UK is “governed” by a squalid bunch of economically illiterate, self-serving, sleazy and corrupt neo-fascists.
Disgusted that the UK is “governed” by a squalid bunch of economically illiterate, self-serving, sleazy and corrupt neo-fascists.
Re: Interest Rates ( U.K )
Correct Jimbo. I was implying that it needs more than tinkering with interest rates to make a real change. And i think we both know that isn't going to happen with our current government. It was just an outside hope that maybe i would get a few more satangs to the pound, not less.