Originally Posted by Puff The Magic Wagon! (Post 8406364)

The rate change is due to the fact the eurozone is going to have to drop their interest rates so once again the pound is attractive.

Originally Posted by SunnySideUp (Post 8406322)

..... interest rates expected to be the lowest ever in history tomorrow!!!

"The pound has risen to its highest level against the euro for three weeks, ahead of the Bank of England's interest rates announcement on Thursday.

The euro fell 0.5% against the pound to close at 90.1 pence, well below its recent high of 98.04 pence.

"There's been a change in sentiment for sterling," said Neil Jones, at Mizuho Corporate Bank in London.

UK rates are expected to be cut by 0.5 percentage points to 1.5%, their lowest in the Bank of England's history"

Source:- BBC

I blame the damned Government for all this amazingly good news!!! ;)

Originally Posted by SunnySideUp (Post 8406322)

..... interest rates expected to be the lowest ever in history tomorrow!!!

"The pound has risen to its highest level against the euro for three weeks, ahead of the Bank of England's interest rates announcement on Thursday.

The euro fell 0.5% against the pound to close at 90.1 pence, well below its recent high of 98.04 pence.

"There's been a change in sentiment for sterling," said Neil Jones, at Mizuho Corporate Bank in London.

UK rates are expected to be cut by 0.5 percentage points to 1.5%, their lowest in the Bank of England's history"

Source:- BBC

I blame the damned Government for all this amazingly good news!!! ;)

Originally Posted by Leslie (Post 8406903)

Wonder why all these firms are going to the wall and the consequent job losses then.

Will they all be back in business soon then?

Les

Originally Posted by chrispurvis100 (Post 8406918)

As I have said, these businesses were working on borrowed money to pay for stock, wages etc. Once the banks stopped lending, it was bye bye business.

Originally Posted by TelBoy (Post 8406938)

$2 trillion? They wish. The gross national debt is now above 10 big ones....

Originally Posted by SunnySideUp (Post 8407114)

Well, rates have dropped as predicted .....

Exporting companies are able to under-cut the competition, due to the weak pound.

The biggest losers in all this are the savers ... rates drop for them, but not for borrowers. We can only hope that inflation drops to 1% or under, then a 2% return on savings is still OK.