Financial Times: Sterling extends losses as BofE cuts growth forecast

WTF?_2

'Quantitative Easing' looms ever closer, markets take fright of Sterling:

http://www.ft.com/cms/s/0/9aacf07e-f82b-11dd-aae8-000077b07658.html

The pound extended its losses on Wednesday as the Bank of England signalled it was prepared to take unconventional steps to boost the UK economy.
..
But it was comments that the Bank would embark on a policy of quantitative monetary easing once interest rates fell to zero that undermined sterling.
Mr King said the central bank would ‘certainly’ be buying Gilts and the supply of money needed to be increased.
“In other words, Mr King is talking about turning on the printing press, which would effectively de-base the value of the pound,” said Paul Mackel at HSBC.
“On the back of Mr King’s comments the path of least resistance is for sterling to weaken.”

Well, would you want to buy into a currency or invest in it when the authorities will shortly be printing vast amounts of it out of nothing?

It's only been about two months since talk of Quantitative easing even hit the mainstream and it's already all but a done deal.

Wookster

Looks like the safe place for all our cash might actually be in Euros, especially if QE is implemented.