bobd22

If he did the £ rate wouldn't matter realy it would ensure I for one would be out of the UK, as it would be like staying on the Titanic as it goes down!

casa del sol

All the UK has to do is raise the base rate like the USA have done, all Europe need do is stop printing.

bobd22

In theory yes but remember in 2008 within a few months UK interest rates fell from 5% to 0.5% and we started printing money which was main cause of us reaching near parity with Euro. Previously we had higher rates than the Eurozone. It took quite a while for the ECB to follow our rate fall and start printing money. However I don't think it is as easy to raise rates as it was to reduce them, for over 7 years we have had these rates and many have had low mortgages they are now used to this and would struggle with any significant rise. Of course longer they are held low more it becomes ingrained etc. Of course anyone saving or pensioners who relied on interest on a reasonable nest egg have suffered drastically as they get little or no interest, but they don't count. Overall it made our goods cheaper and imports dearer hence why the Labour government did it and no one so far has reversed yet. But the Euro also gains from being a much larger currency than the pound and backed by Germany. So overall confidence matters re that which as we see now knocks the UK £. The upcoming referendum on EU membership will also p!at its part over the near term for the £ untill it is decided on an outcome. 1987 I was working with Americans who complained that there interest rates had gone up to 6% as a mortgage holder I said I could only dream of that ours at the time were near 15%. Many things affect currency yes interest rates etc are a major factor, QE a major negative but irrespective no one can predict accurately and that is one downside of living in a country that uses a different currency to what your income is paid in, sometimes you win some times you lose. At the moment we are around about the same rate as 12 months ago. A few years before that on here people would comment about if only it could get back to 1.25 / 1.30.
By the way if anyone thinks that the affect of a low pound to Euro or Dollar on Expats in Spain or anywhere else has any affect on government or BOE then you are in cloud cuckoo land, you do not feature on their radar!

sunseeker123

Interesting data to read:
Nov 18th 2015 Pounds/Euro rate was 1.43
Yesterday when I posted this thread, Pounds/Euro rate was 1.33
Today Pounds/Euro rate is 1.30
less that 2-month, nearly 10% down
What next week?

Fred James

And a month before that it was 1.34 - so your point is?

sunseeker123

If someone is planning to make a move, do not plan your finance based on today's exchange rate (from the discussions in this forum, a lot did).

bobd22

Exactly Fred

jogger

Part of the problem is Osborne painted a rosey picture and he has been found out. It's his watch.

not2old

compare the historical GBP/euro & UK unemployment rates over the past 10 years. Factor in the crash of 2008

• United Kingdom unemployment rate 2000-2015 | UK statistics

XE.com - GBP/EUR Chart

Its a crystal ball, average folks have zero control & the OP question is not a realistic one IMO.

Whichever country one spends the most time in [lives, works & plays], you'd think that should be the currency of choice.

For those that spend a few weeks or months outside the UK, wouldn't that then be the time to change to exchange whatever amount they need for the period to the other country's currency, other than if its a common zone currency or move within the EU.

For the OP, if they intend to make it a permanent move to a euro currency country, wouldn't it be wise to change all the pounds to euro's?

Garbatellamike

It clearly started on Brown's watch but I agree that Osborne is trying a con trick. At least neither Balls or McDonnell have had a watch........

bobd22

This is just going round in circles . The thing is plan all you want but all that matters is the exchange rate at the time you make the exchange to pay for the property. Unless you have enough money in Euros without exchanging pounds . Even then it depends where your money to live on comes from if it is from the UK then you have to make ongoing exchanges, fact is no one knows in reality what the rate of exchange will be at a point in the future, one can use all the crystal balls they want. I don't realy understand what the OP wants to read or hear?

Keith1963

One weeks it's up, another it's down.
It's just like the sun.
Except here it's warmer for longer, and it is what it is.

Only be concerned about what you can positively affect, not what you cannot.

Fred James

I agree with you. There have been plenty of posts on the subject, none conclusive. We are in crystal ball territory now so I am closing the thread.