DOOM: Sterling

[jamesbrown]

We need an upside down banana.

[AtW]

Now that Truss is out suddenly nobody cares about currency drops?

“The pound fell 2.6pc against the dollar following the interest rate decision, as currency traders reined in their bets of further rate rises.”

https://www.telegraph.co.uk/business...ebuke-markets/

[jamesbrown]

Did you miss the article about the massive tax hikes?

[AtW]

Did you miss the article about the massive tax hikes?

Trying to forget it…

[ladymuck]

Now that Truss is out suddenly nobody cares about currency drops?

“The pound fell 2.6pc against the dollar following the interest rate decision, as currency traders reined in their bets of further rate rises.”

https://www.telegraph.co.uk/business...ebuke-markets/

I thought the same! So she wanted to cut tax and spend more, but the pound tanks, so she gets forced out. Rishi wants to put up tax, spend less and the BoE hike interest rates, and still the pound tanks. No-one dies.

[SueEllen]

I thought the same! So she wanted to cut tax and spend more, but the pound tanks, so she gets forced out. Rishi wants to put up tax, spend less and the BoE hike interest rates, and still the pound tanks. No-one dies.

She was listening to a mad professor.

He's listening to current orthodoxy.

[DealorNoDeal]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

[_V_]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

10% price inflation is fine, let's face it everything doubling in price every 7 years is not a problem. I'm sure It contractor rates will double too.

[AtW]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

If only he said so few weeks ago when Truss needed it

[mattster]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

Sterling fell because BOE bascially admitted we are completely screwed. Recession until 2024, 0.75% PA growth thereafter. Death spiral of ever increasing tax take, decreasing public investment and failing public services with no credible plan to get out of it. We are regressing to developing country status with incredible speed but it is the will of the people so therefore we cannot change course.