Re: Exchange rate
 

Yes he wants to cut rates, inflation says he needs to raise rates, so he .............. holds rates, like a rabbit caught in the headlights. In fact, the BOE's main purpose is to control inflation, not prop up an artificially high housing bubble, so they should have raised them last time round when they knew inflation was nearing 5% - more than double the supposed max.

But he knows what's going to happen when they raise rates:


POP.

Re: Exchange rate
 

Couldn't have said it better myself....and this is also what is about to happen in the US. They cut rates back down to help housing, fueling inflation further. They have to hike big time.

Re: Exchange rate
 

Will end up with more homeless and 272k In july alone foreclosed on causing strain on gov resources requiring more gov spending. What do you do? Perhaps pull out of Iraq OR take over the oil? ;)

Ohh and in a weird twist Fannie Mae had to open 2 new offices to sell off repo property!

Re: Exchange rate
 

I expect hikes as well. They can't get out of it. The lower cost of oil* will take months to take effect, and that isn't the only reason for the inflation anyway. Meanwhile, BOE, the Fed, and the RBA are all talking about cuts, which are just sweet nothings in the ear of the markets.

That Fannie Mae thing is amusing, Loki.


*Did I say "lower" at $120 BBL??? How quickly we get used to high prices. Just a few months ago it was $80 BBL, and the markets today are still reflecting oil at $100 - the nice little jump to nearly $150 hasn't touched us yet.

Re: Exchange rate
 

Settle down. It's only the internet.

Re: Exchange rate
 

1.969 now :zzz:

Re: Exchange rate
 

Handy tip!

I still need to pay my "welcome tax" (!!!) so need to change about 5k pounds. Last week it was going up steadily, getting 2.05.


Today it's 1.93.... and dropping.

The tip is..... if you see a rate you're comfortable with, and need to change within a certain time, don't be a greedy tw@ like me!

On 5k it's not a huge loss, but 600 bucks would have paid the leccy for a few months!!!

The movements between these two are just incredible......:(

Re: Exchange rate
 

we are in the same boat, we can send any money over until house goes through, that not until sept (end) so god knows what it will be then :curse:

begining to worry me:curse:

Re: Exchange rate
 

We are i the same boat we fly October "2nd, I've got no finger nails left after watching the pound tumble this week:(

Re: Exchange rate
 

nothing we can do but watch and hope though hu? Kinda worrying I must admit and its not like im exchanging for a house or anything.

Re: Exchange rate
 

What goes up must come down:thumbdown: I just hope the saying goes the other way as well:thumbup:

Re: Exchange rate
 

Damn I hope so it was so hard to see it go from 2.05 to 1.93 while I was trying to get a CAD account open. Got 3 months though so may change!

Re: Exchange rate
 

We opened a HSBC bank account back in May when we were in BC on a recce:thumbsup: Unfoutunately haven't deposited a penny into it yet!!!!!!!!:(

Re: Exchange rate
 

wish I had done the same they dont seem to understand that the international currency account doesnt need me to be in the country.

Re: Exchange rate
 

I was wondering actually, when we set up the account they gave us an English GBP account and a Canadian CAD account which run along side one another so i can deposit gbp or cad into them, I have wondered what the exchange rate would be? Do you think it would be the straight Interbanking exchage rate?