Interest rates cut by 0.5%

There's no point cutting interest rates when banks and mortgage lenders don't pass them on, if you ask them why its always a standard response re market conditions, ie so many are in default they have to claw back some funds from those that aren't.
 
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B of E just cut interest rates by 0.5%, as have the Fed and ECB.

http://news.sky.com/skynews/Home/Politic..._in_the_Commons


Well needed for market stability but isn't going to help my exchange rate for buying Aussie dollar!

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The Aussies cut their interest rate by 1% yesterday so in fact the GBP should now strengthen against the AUD...meaning you get more for your pound
wink.gif
 
[ QUOTE ]
[ QUOTE ]
B of E just cut interest rates by 0.5%, as have the Fed and ECB.

http://news.sky.com/skynews/Home/Politic..._in_the_Commons


Well needed for market stability but isn't going to help my exchange rate for buying Aussie dollar!

[/ QUOTE ]

The Aussies cut their interest rate by 1% yesterday so in fact the GBP should now strengthen against the AUD...meaning you get more for your pound
wink.gif


[/ QUOTE ]

Rate jumped up yesterday after the Aussie rate announcement (hence why I was exchanging today before the BofE expected announcement tomorrow) - has actually stayed pretty stable since today's rate cut, so I might be alright getting it today...have had Bloomberg ticker on my screen all day showing the AUD rate!
 
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