cneldred

Housing markets is increased in multiples in most western countries in the last 10 years. Spain, US, Canada, France, Germany, the list goes on and on. A fact of life. BOE kept pace with most major central banks, cutting after the terror attacks of 9/11, to keep the US economy out of recession. In the rate hiking cycle they are ahead of Europe in the curve there. They have mantained a strong currency.

Now let's look at the many disasters that the labour government have presided over, immigration, crime, schoooling, throwing buckets of money at the NHS with no improvement, Petrol prices doubling, the Iraq war, need i go on. Do you honestly think a government controlled BOE could have done a better job? I would bet my life savings that things would be sooooo much worse if that was the case.

Chris

Iain Mc

Quite. Gordon flogging off the family gold for a record low before it proceeded to soar in value and wrecking a healthy pensions system would be good indicators of what happens with the "hands on" Government approach (and the £6bn in annual tax credit overpayments, etc., etc.)

Fair play, making the BoE independent was a good move. Shame it was one of the few rather than the many.

Anyway, enough of Sterling - why is the loonie so strong on the markets against the pound and dollar?

Any chance of a Canadian rate cut?

Cheers, Iain

cneldred

i am hearing talk of another 100bp to come from Canada. Not good news...

The currency has some link to oil, i heard something about an OPEC output cut this morning. Which would strengthen the price of oil and thus be a boast for CAD$.

rae

english pls for us financial thickies. exchange rate go upsy or downy.

Andthen

It means we get less $ for our £.

rae

right, ta, now you need to start posting telling us all this is going to change, and soon

steve666

ok
This is going to change, and soon.

cneldred

LOL

cneldred

If canada raise rates if makes their currency stronger, which means those wanting to change £ into CAD$ get less.

If oil price goes up and drags CAD$ with it again you get less.

The important thing to remember is if £ gets stronger you get more for your money abroad. If the CAD$ gets STRONGER it cost you more £ to get the same CAD$. I haven't just confused people more have i.

Sorry edited i put weaker instead of stronger after CAD$.

ann m

Ok - spot rate right now with Moneycorp is 2.201.

I'm going in .....

Robski

Go for it. Good luck

ann m

Done - sold - it's a deal !

I can't take it anymore !

Now, remind me,

DO NOT LOOK AT THE RATES AGAIN FOR THE NEXT THREE MONTHS !!!!!

cneldred

ann i think it is a good rate to deal at. I am trying to speed my sale up because i want to change around hear. I don't believe we will see 2.30 again for a while.

steve666

If anyone doesn't understand cneldred's basic rules of foreign exchange you shouldn't be here wasting his time, so bugger off.

So what's the timeline, given the information available, for Canadian oil supplies to dwindle to a trickle and set off economic calamity? There was an article in the Enomomist a while ago (maybe years, I can't remember) that cited 2012 to be the year of impending doom for oil exporting countries.

I'm just worried for the poor people in Alberta.

steve666

I said I wouldn't but it's like a moth to a flame.