The Conservative Party

The Light Was Yellow Sir said:
You know why though? The markets are now pricing in a 1-2% rate increase and a likely emergency statement from the BOE. Absolutely nothing to do with the cavalier politics currently on show, no matter how much you try to conflate the 2. In fact, you seemed to be suggesting that the BOE policy should be to reduce interest rates and thus support the Government, unless I’ve misunderstood? There would be an absolute rout if that happened.
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Oh I see. So what you're saying is that all the drama on here about the exchange rate crashing was in fact just a load of old bollocks because you knew all along it would recover immediately. Thanks for clearing that up.
 
Mike D said:
What narrative the pound has tanked the market sees us as an emerging market currency, I am not sure what recognition you are looking for here? Don't tell me you've just shit in you're hands and forgot to clap.
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Tanked from 1.09 to er 1.08? Of course I shat myself about that alright.
 
mat said:
Kwartang already hiding from the media over the shitshow he's created.

He's accountable to us not the hedgefund owners he's sucking off.
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Is he though? They really don't care. They've broken laws they actually created and as good as got away with it. They've shown utter contempt for the electorate and especially the poor in that electorate and sneered and laughed while doing so. They don't give a fuck. In France a few years back they'd have been waiting their turn on the guillotine and rightly so. In our weak country we bend over and say please bum us harder.
 
Chippy_boy said:
Well who'd have thought it. The pound now higher against the dollar now (1.0899) than prior to the mini budget. Deary me that doesn't fit the narrative at all, does it.

Queue the usual lefties wading in with some deflection or other. ...
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It's at one dollar.

The pound is at one f******g dollar.
 
Chippy_boy said:
Oh I see. So what you're saying is that all the drama on here about the exchange rate crashing was in fact just a load of old bollocks because you knew all along it would recover immediately. Thanks for clearing that up.
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The dollar rate prior to Brexit was around the $1.55 to $1.65 band. After Brexit it was $1.25 to $1.35 band and now it‘s looking like a $1.05 to $1.15 band.

This reflects the perception of the UK economy and its strengths/weaknesses. Basically, if the UK keeps doing dumb things the market is going to price that in.

It matters because the world is run and priced in dollars. The weaker our currency, the more expensive everything is.

Of more importance has been the effect on Govt borrowing, where the UK now has to borrow money at a higher rate than say, Italy or Greece. The BoE will also be obliged to hike up interest rates which will wipe out any nominal tax reduction for Tory middle England via higher mortgage payments.

 
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