Lentisc

Hi everyone

Due to the Bank of England not reducing the interest rate today, the pound as taken another slump on the money markets.

Surely this cannot go on for much longer can it?

Those with incomes from the UK surely will be beginning to hurt soon and with the holiday period shortly upon us, if the rate stops or falls even further, this will put many people off taking holidays on the continent.

People wishing to exchange Sterling to the continent, are going to have too wait for rates to improve for some considerable time.

Will it also effect the housing market in Spain or Portugal?

Please do not think this is a panic reaction, I understand that rates usually improve over the holiday period, but its just a point of interest on how people will react to the continuing falling pound.

Unless somebody has some insider information.

Lentisc

Beegly

The BOE made its decision to keep rates unchanged on the 6th March I believe and the next decision will be 10th April I think. The pound is going down against the euro due to speculation that UK interest rates will go down at the the next BOE and the UK is potentially heading towards a similar financial crisis situation as the US. It is indeed a worrying situation for people who transfer UK pounds into euros regularly, since allot of this is driven by currency speculators who are making a fortune from it, lets hope it all settles down and the so called experts in charge of the UK economy know what they are doing.