New printed sterling in UK

scooby



Joined: 02/01/2009
Posts: 84

Message Posted:
05/03/2009 22:16

How will this new boost of cash-flow affect the exchange rate of Turkish Lira ?.I have made a bit of money from buying and selling currency and is wondering whether to buy some TL now rather than later.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
06/03/2009 00:15

Not sure, but rate seems to be creeplng up, over 2.5 today.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
06/03/2009 00:20

Who can say scooby, espcially in this current madness. The last time UK interest rates fell, sterling actualy strengthend, which goes against 'conventional' wisdom. Now we have proposals for an increase in central money supply and it looks like the base rate will move under 1% to most probably 0.5% soon as well. In a 'sane' world this would cause the pound to weaken vs other courrencies. However in the current climate if these moves lead to money market traders thinking in makes the UK more able to weather the recession and come out of it that other countries not making such moves we are as likely to see sterling strengthen as it did with the last base rate cut.



You could just pop down to the casino and put it all on red

scooby



Joined: 02/01/2009
Posts: 84

Message Posted:
06/03/2009 17:48

Cheers for your thoughts.I am a gambling man,especially when it comes to this apartment.Who knows how that will turn out.I'll toss a coin.

Noeler


Joined: 23/01/2009
Posts: 32

Message Posted:
07/03/2009 00:23

Hi,



It's called "Quantitative Easing" (I love that term). Essentially, print a further £150 bn. But, hey, didn't Robert Mugabe try something like this .....?



Bail out of the banks - may as well light a big fire in Hyde Park and throw the money in. Better off to give the money to consumers and go for a "Green New New Deal" in energy efficiency to stimulate the economy.