It really is a small world. I'm in Craigentinny which is about 5 minutes from Meadowbank I can see the stadium lights from where I am sitting. South Queensferry is nice. I learned to sail at the marina there, Port Edgar.

I'm reading Paul Krugmans "Accidental Theorist" and have just finished "The Undercover Economist" by Tim Harford to try and get my head around how this all works. I'm absolutely fascinated by the fact that a system that affects huge parts of all of ours lives has no-one really in charge.

Cheers
Tom

The wife paid some money into our RBC branch here yesterday and got 1.93 and change. 1.85 is just filth.

Chris

Conversely, I am quite pleased about the exchange rate right now, I'm thinking of changing some CDN$ savings into GBP. I do feel bad for people exchanging the other way, probably makes emigrating to Canada seem less appealing.

BOE base rate reduced as expected. I guess we will see if it has any effect on the rate.

Doesn't look like its even registered on the Loonie at all. I think its more important what BOC choose to do in the wake of all the cuts elsewhere.

having spoken to some of the currency exchange bods today they still see it going down below 1.95 so not good news for people like me who need to exchange at some point soon. They have said that it may settle at about 1.98 in the medium term but again it has a lot to do with oil prices or so they say:curse:

You could always secure an exchange rate now - most of the larger firms like HiFX etc allow you to secure a favorable rate in advance which can soften the blow somewhat. At the end of the day it's all about timing

I think it's all about having the 10% as a deposit too. Don't the FX houses want a downpayment on the forward contracts? This was always a problem for us as virtually every penny was tied up in the house ....

I am paid in US dollars and it just has been a nightmare, I am just happy when it gets above 1. To think it was $1.30 in 2004

Danny, the rate was 99% guarenteed to be cut 25bp today...the market will be paying attention to minutes rather than meeting for the foreseeable...looking for clues.

Chris

I don't want to get anyones hopes up, and the likes of Cneldred obviously know much more about finance than I.... but, on a forum I visit there is a lot of talk about commodities (gold, oil etc.) plunging in price as the global slow down gets established.... lack of demand etc. This will hurt commodity based currencies, which I have been told includes the CAD.

I don't have a clue if they're right or wrong, but I'm crossing my fingers, and other bits, in the hope that they are right!!

We've found a house we love and are about 10 cents to the pound away from affording it!!!

I would have imagined it would have been already factored in, although there is talks of another cut around May/June.

Oh no! It's now below $1.95!!!

and now below C$1.94

Just changed £200 at post office for spending money tomorrow, get this....... $1.84