Pound in freefall against dollar

epz_2

justpurchased wrote: »

Realy, you obviously don't run a business then. Belive it or not interest rates are set for the economy not just for houses! Recent inflation is due to oil (which is dropping)prices. Are you insecure that a drop in interest rates would cause a housing boom again! Belive it or not there is more to life than houses

The BOE isnt setting interest rates for the economy at all anymore, that's one of their problems.

while lower house prices would be good for the economy a small rate hike would send the same sort of signal the in 2005 people took to mean keep on borrowing only this time it would be to get out fast.

its futile for the government to waste money propping up a market that big, they dont have enough cash and cant borrow more.

re my personal opinions in the short term im for a weaker pound as it means i can hit up my American company for an even bigger pay rise than i am planning. house buying wise i have always said i would buy if i saw the right house at the right price but i aint paying over the odds just cause a bunch of daft lemmings also did.

im actually begining to wonder if gordy boy is going to wreck the econnomy so much that i have to take my life plan B of moving over to north america

justpurchased

!!!!!!? wrote: »

But don't let fact cloud your laser like obsession with exchange rates and oil prices.

Sorry forgot who started the thread... Oh it was you trying to point out inflation is going to go up because of the weak £.
Do you realise what you do .
You just hunt negative storys to promote gloom. A lot of other people realise it just not you.

PasturesNew

!!!!!!? wrote: »

Just checked the BBC page and the pound is now down to $1.7794

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/overview/default.stm (will change over the day)

Of course, it's early in the day yet but given that it was almost $2 a couple of weeks back, this looks like an outright collapse in the currency.

I get paid in US$, so this is a 10% pay rise for me!