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Back to €1.40 

On An Island wrote:

Back to €1.40 

yep will bounce a bit higher I think. normally a market friendly result in a errr thingy where you use a ballot paper, it usually bounces for a bit then settles after the first quarter when the first infighting happens on the err green bench things in that large place with a big clock

redders_61 wrote:

On An Island wrote:

Back to €1.40 

yep will bounce a bit higher I think. normally a market friendly result in a errr thingy where you use a ballot paper, it usually bounces for a bit then settles after the first quarter when the first infighting happens on the err green bench things in that large place with a big clock

have you noticed a pattern yet onanisland?? in march it hit 1.42 so member of MPC makes a speech about next rate move possibly being downwards

today latest unemployment/employment figures send it back over 1.4 so Governor makes a speech that UK could be heading back into deflation and forecast for growth in GDP revised downward

funny thing about independent central bank is the arms length from the government and sometimes conspiracy theories are actually real lol

the strong pound makes a hike in rates less likely and makes a weaker economy and deflation more likely, so its just stating the obvious, rather than evidence the central bank isnt independent
ps there was a downward revision for UK growth from a big group a couple of days ago, from 2.8 to 2.5%

georgeingozo
the strong pound makes a [b wrote:

hike in rates less likely and makes a weaker economy and deflation more likely[/b], so its just stating the obvious, rather than evidence the central bank isnt independent
ps there was a downward revision for UK growth from a big group a couple of days ago, from 2.8 to 2.5%

yes what I meant is they are making speeches designed to weaken the rate rather than interfering in the market by selling pounds and buying euros.

nothing like that is done without agreement of the chancellor

redders_61 wrote:

georgeingozo
the strong pound makes a [b wrote:

hike in rates less likely and makes a weaker economy and deflation more likely[/b], so its just stating the obvious, rather than evidence the central bank isnt independent
ps there was a downward revision for UK growth from a big group a couple of days ago, from 2.8 to 2.5%

yes what I meant is they are making speeches designed to weaken the rate rather than interfering in the market by selling pounds and buying euros.

nothing like that is done without agreement of the chancellor

and I'm saying the opposite :-) they are not trying to weaken the pound - they are pointing out the consequences on inflation of a stronger pound, and thus the implications for the future trend in interest rates, which is their job. They dont need the say of the chancellor to do so

georgeingozo wrote:

redders_61 wrote:

georgeingozo
the strong pound makes a [b wrote:

hike in rates less likely and makes a weaker economy and deflation more likely[/b], so its just stating the obvious, rather than evidence the central bank isnt independent
ps there was a downward revision for UK growth from a big group a couple of days ago, from 2.8 to 2.5%

yes what I meant is they are making speeches designed to weaken the rate rather than interfering in the market by selling pounds and buying euros.

nothing like that is done without agreement of the chancellor

and I'm saying the opposite :-) they are not trying to weaken the pound - they are pointing out the consequences on inflation of a stronger pound, and thus the implications for the future trend in interest rates, which is their job. They dont need the say of the chancellor to do so

so it is a pure coincidence everytime pound goes over 1.4 that someone makes a speech the consequence of which is it drops again. yes and I believe in the tooth fairy too lol:)

....

ps the BoE governors speech was in his quarterly inflation report , which comes out every three months (:-)) The coincidence was that it coincided with a day the rate was over 1.40

georgeingozo wrote:

ps the BoE governors speech was in his quarterly inflation report , which comes out every three months (:-)) The coincidence was that it coincided with a day the rate was over 1.40

so that's why I didn't find a euro under my pillow just a poxy IOU with a picture of the Parthenon on it lol

incidentally had Blair had his way and we had joined euro in 2005 we would have joined at 1.45

Yeah it's just a coincidence redders, the latest drop is also due in part to the EU economy showing slight improvement. Still anaemic levels of growth though, but it has been helped by a much weaker Euro and the fact the ECB has decided to start printing money. The current strength of sterling could hinder exports and possibly weaken the economy, as has also been reported in the last few days.

On An Island wrote:

Yeah it's just a coincidence redders, the latest drop is also due in part to the EU economy showing slight improvement. Still anaemic levels of growth though, but it has been helped by a much weaker Euro and the fact the ECB has decided to start printing money. The current strength of sterling could hinder exports and possibly weaken the economy, as has also been reported in the last few days.

yes that is why I put stuff on the voting thread, (doesn't matter now election is over) the Labour party had a policy to interfere on foreign exchanges to weaken the pound (race to the bottom) to improve exports and GDP growth.

as I don't live in UK I couldn't give two hoots about effect on UK economy all I want is a high exch rate (selfish like that) lol. oh and yes when ECB meet this month and increase the QE it will go up again. wonder what speeches, coincidental of course, we will get then

well, one thing for sure, there wont be quarterly review from the BoE next month :-)

georgeingozo wrote:

well, one thing for sure, there wont be quarterly review from the BoE next month :-)

true and ECB is next week I think

hovering around 1.4 again (did go just over about 30 mins ago) I cant make my mind up if that is Because of or Inspite of the exchange rate scandal fines lol

i owe toon and onanisland an apology, yesterdays speech by Carney helped it to go UP not down. systemic inflation in the UK is +0.8 its the CPI that's negative. once oil price reductions drop out of the equation it will normalise.

cough, cough

georgeingozo wrote:

cough, cough

oopss imagine that I got you and toon confused lol, abject prostrations

btw a certain other subject (lets call it the elephant in the room) appears to be having a positive effect on the rate. if anyone didn't see newsnight last night and wants to know what Allegra Stratton reported, on said subject, please feel free to msg me and I will update you

oh god, not more on the royal baby...

lol more like camerons baby #dontbeobtuse lol

is that similar to Rosmary's baby ?

paraphrasing the film.

"human sacrifice in exchange for success in his career."

georgeingozo wrote:

is that similar to Rosmary's baby ?

paraphrasing the film.

"human sacrifice in exchange for success in his career."

actually that is a brilliant way of describing it yes. rate is hanging above 1.4 as we speak so what was reported is great and for good reason. I will msg you

those of you who have your MY CSP pension paid into a UK account....if the 1st is a Monday (june) does it show in your account at midnight on the Friday? or Sunday?

Dropping like a lady of the nights panties..only I can't work out why. Pound dropping against all currencies at the moment

redders_61 wrote:

.only I can't work out why. Pound dropping against all currencies at the moment

its euro strength, not sterling weakness, on hopes of kicking the Greek debt can further down the road - euro has also gained 3% v $ in the last week

Ahh that explains it. Dropped 1 cent against USD and Canadian Dollar 2 cents against AUD but 5 cents against euro lol