Thursday, December 11, 2008

The pound continues to slide against the Euro

The government were warned that the Pound would slide, and it continues to do so against the Euro hitting yet another record low today of 1.2330 Euro's to the Pound. Currency exchanges are already trading at parity and some say we will reach parity by the end of the year.

What this means is that there will be inflationary pressures around the corner. Far from cuttting interest rates further and making it harder for our banks to raise cash, we need to raise interest rates and reduce public spending.

The latest rate is available here on the BBC, and the BBC has this.

1 comment:

Duncan Crow said...

It was 1.12 not 1.23 to the Pound and yes they were warned but economic realities do not register with Gordon "No more boom and bust" Brown.