European Central bank Set rate will it be good news (1 Viewer)

[Braunston]

Hi,
It will be very interesting to see what happens to the £ vs € this afternoon as the European Central Bank is resetting the interest rates in the Euro Zone, lets hope it helps with the exchange rates as we need some good news

Its hovering around 1.10 to the pound at the moment


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[haganap]

Oh i love this Braunston. If I would of taken my own advice I gave to you a couple of weeks ago when the pound was at an all time low ic ould of made some money the pound got to 112.8 where by on your last post on this subject the pound was at a megre 1.04.

Still I fully expect the pound to recover but at a slower rate than previously. Probably about 1.20 by the time the parc verger meet comes along.

should be really interestng what happens this pm. It's evident that the cutting of interest rates is having little effect. All that we are doing is continuing to pay our mortgage at the rate it was over 12 months ago 6.5 % (we have a traker) it is now traking at less than 3% our payments we have managed to keep the same and therefore shave years off our mortgage without bein g any worse off. Many punters are just relinning there borrowing. The rate to borrow at is horrific compared to the BOE interest rate with rates about 7.9%. unless the libor rate comes down then that wont change, Then mortgage companies are taking the pxxs by not passing on the cuts to their mortgage rates but then banging there savings rates.
I think it,s a case of holding on and hoping to stay in your house for most families, keeping your job, and seeing through the next 12-18 months.

 

[Braunston]

Hi,

They have cut the rate by 0.5% To 2% and the link to the graph above showed a 1 cent gain within the last half hour, so it will be very interesting to see where it ends up.

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[wanderer]

hi
I have been looking at this recently and cant understand how the euro rate against the pound has not improved as the euro is massively over valued
Whats the difference between Ireland and Iceland ? ANSWER one letter and six months
PIGS stands for portugal-italy-greece-spain All countries in a perilous financial state high public spending high unemployment , all doing far worse than us.
How can the euro be viable long term if individual member countries like ireland go down the pan i cant see europe sending ship loads of money to the paddies unless its a bribe to join the constitution.
I reckon the rate will be back to 1.25 by march and 1.40 by june
Mind you i have lost all my shirts at the gee gees over the years
Wanderer