Bank of England base rate held at 0.75%

[AtW]

In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!

In 10 years 1 USD will be £ 20 (English Sterling with Boris face on it )

[scooterscot]

Why would the Govt default on debt issued in their own local currency? They can always print it.

Indeed. Worked out so well for Zimbabwe

Ps. They print notes, not currency. And that promise to pay gets thinner by the day.

[CryingSheep]

Why would the Govt default on debt issued in their own local currency? They can always print it.

In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!

[AtW]

There'd be £2 to the $ but the government would have defaulted. My kind of Britain.

Why would the Govt default on debt issued in their own local currency? They can always print it.

[TwoWolves]

Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.

There'd be £2 to the $ but the government would have defaulted. My kind of Britain.

[AtW]

Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.

[TwoWolves]

Keeping our kindling dry I see.

[Martin@AS Financial]

Full story here:

Bank of England cuts UK growth forecast - BBC News