Boe Hold'S Interest Rate'S To A Pittance. £ Look'S Set To Stay Weak...

[JimsKnight]

Well Britain's facing a 4 Billion £ bail-out debt to help along Portugal.

The Bank of England is holding interest rate's Yet AGAIN to a paltry 0.5%.

It's looking pretty grim for expats in LOS who rely on frugal pension's an a formerly high exchange rate...

http://uk.finance.yahoo.com/news/Britain-Faces-3bn-Bill-In-skynews-178026334.html;_ylt=As7.ctL21WXMw_cbWpI7l0LSr7FG;_ylu=X3oDMTFkZHZpMXBjBHBvcwM5BHNlYwN5ZmlXZWVrZW5kVGFrZW92ZXIEc2xrA2JyaXRhaW5mYWNlcw--?x=0

http://uk.finance.yahoo.com/news/Interest-Rates-UK-Sticks-skynews-2568351882.html?x=0

Is it just me or is the writing on the world for the former 'Queen of currency's'?

I'm beginning to think that economist who said 'The Pound is finished' may not of been wildly speculating afterall...

[toffo9]

This is good for me because aslong as the interest rate is low then the CPI will rise and my pension next year will get about 5 percent rise wooooo

[ESB7]

This is good for me because aslong as the interest rate is low then the CPI will rise and my pension next year will get about 5 percent rise wooooo

And then the government will change the criteria of pensions to ' 2.5% or CPI whichever is higher'...so dont hold out your hopes

[Greyman]

4 Billion to Portugal.

650 million to Pakistan.

Can the British government start spending the British tax payers money, on British tax payers and their families?

Is this notion too outrageous?

[KunMatt]

The Pound is 1.64 to the dollar right now. This is about the stable rate it was 10 years ago.

The reason the Pound is weak to the Thai Baht right now is because the Dollar is weak and down to 30.0 to a Thai Baht. The GBP has to be converted to USD before it can be converted to THB.

Unfortunately the Thai Baht doesn't seem to weaken despite riots, a brink of civil war, an impending coup, earthquakes, floods etc. Whatever the negative news about Thailand the Baht is ever strengthening!

[SantiSuk]

The Pound is 1.64 to the dollar right now. This is about the stable rate it was 10 years ago.

The reason the Pound is weak to the Thai Baht right now is because the Dollar is weak and down to 30.0 to a Thai Baht. The GBP has to be converted to USD before it can be converted to THB.

Unfortunately the Thai Baht doesn't seem to weaken despite riots, a brink of civil war, an impending coup, earthquakes, floods etc. Whatever the negative news about Thailand the Baht is ever strengthening!

Thai GDP expected to be up around 5% this year (they can't fake the numbers like TAT - if IMF caught them cooking the books they'd be dead in the international waters). Inflation no worse than farangland. Not rocket science why the baht continues strong. Those who think the pound will bounce back against the baht 'because it always does' need to persuade themselves that this trend can reverse. If you are stuck on a poor farang pension, then pray for another Asian mega-crisis.

[nong38]

The BOE is scared stiff to raise interest rates, all the folks with mortgaes back home are having a great time with money to spend, usually on holidays, they will be in for a rude awakening when rates start to move. The ECB move will counteract their bad news, now th BOE needs to think about this or be left behind, they will no doubt tell us all the exporters will benefit from this but forget to tell us until it suits where the raw materials come from and how much they cost, the consumers already know. The pound is not finished, the Euro is not yet established as a major currency its only just over 10 years old and survives because Germany is supporting it, they have no choice. I think we can hope for around 50 to the pound for the rest of the year, if the UK can get its house in order things could improve next year.

You never know what will happen next to affect finances.

Although Britain is suppossed to be broke, they can still find the money for emergencies, like Libya and Pakistan, but poor old expat pensioners, well we wont mention that and dont ask the HM Govt to explain how they can still tax you, not give you annual pension rises and if you are out of the country for more than 91 days averaged over 4 years you lose the right to residency, very fair treatment indeed.

For those who think that big pension increases are coming their way, beware the smoke and mirrors and big brother who knows you are not in the UK and therefore not entitled to be helped to much. What a mess is there any wonder we left and Dave while I think of it dont go apologising to other countries about Britains past. We did not get it all right but we give the world a lot free, law and order, justice, railways, electricity,tv, radio, jet engine, radar, internet, power stations etc etc yes we were great once upon a time.

I am now going to make a cup of tea, good day to you all.

[JimsKnight]

Well said on some of that. The western wheels are spinning on grease and going nowhere. All the while the governments are papering over the cracks in the dyke-walls.

Bye-bye Euro, you won't be missed

Non-Dom Briton's still have residency, it's just you won't pay any tax on bank account's etc

Edited April 9, 2011 by JimsKnight

[12DrinkMore]

This is good for me because aslong as the interest rate is low then the CPI will rise and my pension next year will get about 5 percent rise wooooo

Not if you are living in Thailand you won't.