Suspect Device Posted September 12, 2017 Share Posted September 12, 2017 3 hours ago, welshbairn said: No problems at all then? Think I'll go for it. Off to Seville next month and my stash of Euros bought in a Brexit panic on the evening of the referendum is running out. 1.29 euros to the pound I think it was. The only problem I encountered was taking money out in Cyprus where the ATM charged me more than the amount withdrawn. If you go to a proper bank ATM, it should be OK. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 12, 2017 Share Posted September 12, 2017 1 minute ago, Suspect Device said: The only problem I encountered was taking money out in Cyprus where the ATM charged me more than the amount withdrawn. If you go to a proper bank ATM, it should be OK. Aye, you have to be careful that you're not letting the ATM's bank decide the exchange rate, it's sometimes confusing. Here's the Revolut advice. Quote Sometimes when you use an ATM abroad, you will be asked to choose between a 'credit', 'checking' or 'savings' account. You should always choose either a 'checking' or 'savings' account. If the ATM (or card terminal) asks whether you would like to complete the transaction 'with conversion' or 'without conversion', you should ALWAYS choose 'without conversion'. As a rule of thumb, you should always opt to be charged in the local currency of the country you’re in! If you’re in Thailand choose Thai Baht, in Spain, Euros or in the United States, Dollars. If you choose 'with conversion', the merchant or ATM provider can apply their own exchange rate. This rate usually has a mark-up on the interbank rate, enabling the ATM provider or merchant to make a profit on your transaction. On the other hand some ATM's charge a fee just to use them. 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted October 17, 2017 Share Posted October 17, 2017 Inflation still creeping up. 3% now. http://www.bbc.co.uk/news/business-41649498 Mind you, these are the ONS figures and given they recently 'lost' almost half a trillion quid from the books, can they be trusted? 0 Quote Link to comment Share on other sites More sharing options...
doulikefish Posted October 17, 2017 Share Posted October 17, 2017 Inflation still creeping up. 3% now.http://www.bbc.co.uk/news/business-41649498 Mind you, these are the ONS figures and given they recently 'lost' almost half a trillion quid from the books, can they be trusted? Only when its Gers figures time 2 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted October 17, 2017 Share Posted October 17, 2017 5 minutes ago, doulikefish said: Only when its Gers figures time Lies, damned lies and Gers figures. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted October 17, 2017 Share Posted October 17, 2017 I wonder if we're finally going to see a rise in the bank rate, and if so what the implications are for the wider economy. Must be worrying for those on a fixed income and/or dependent on savings see their real income slashed and value of savings cut in real terms. 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted October 18, 2017 Share Posted October 18, 2017 On 17/10/2017 at 13:16, Granny Danger said: I wonder if we're finally going to see a rise in the bank rate, and if so what the implications are for the wider economy. Must be worrying for those on a fixed income and/or dependent on savings see their real income slashed and value of savings cut in real terms. They wouldn't have been getting a great return on their savings when interest rates were 0% 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted October 18, 2017 Share Posted October 18, 2017 4 minutes ago, Jacksgranda said: They wouldn't have been getting a great return on their savings when interest rates were 0% That's obvious, but interest rates cannot be taken in isolation. Not that long ago inflation was less than 1% so at at 0% interest the comparison of interest to inflation was also less than 1%. If inflation is at 3% then even if interest rates creep up to 1% then that's a worse situation. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted November 2, 2017 Share Posted November 2, 2017 Interest rates up to 0.5%. 0 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted November 2, 2017 Share Posted November 2, 2017 (edited) 44 minutes ago, Ross. said: Interest rates up to 0.5%. Pissing in the wind - even the pound hasn't bounced on the back of it v the euro as the market had already anticipated the move. Will need at least another 3 or 4 like it to help in the way the BoE are hoping. It's surely just a toe in the water exercise today. Edited November 2, 2017 by Billy Jean King 1 Quote Link to comment Share on other sites More sharing options...
Ross. Posted November 2, 2017 Share Posted November 2, 2017 1 minute ago, Billy Jean King said: Pissing in the wind - even the pound hasn't bounced on the back of it v the euro as the market had already anticipated the move. Will need at least another 3 or 4 like it to help in the way the BoE are hoping. It's surely just a toe in the water exercise today. The 0.25% move had been priced in. Some were expecting a move slightly higher which is why there was a small drop when it was confirmed. Be interesting to see when they move it up further. 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted November 2, 2017 Share Posted November 2, 2017 (edited) Only taking it up to where it was before the post Brexit vote "panic" rate cut. No big deal and certainly nothing that I'm worried about. If, on the other hand, you are living close to your budget and are on a tracker mortgage then you might start to get a bit twitchy. Inflation will hit those people hardest. Real inflation which includes real stuff most people have to pay like a mortgage. Edit: A lot of posters on her will have only known ridiculously low interest rates like we've had for the last 10 odd years. Old c***s like me remember their first mortgages which were at 15%. Mental to think about that now but there is no way they could go back to that ind of rate without bankrupting almost everyone in the country. Edited November 2, 2017 by Suspect Device 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted November 2, 2017 Share Posted November 2, 2017 (edited) 11 minutes ago, Suspect Device said: Only taking it up to where it was before the post Brexit vote "panic" rate cut. No big deal and certainly nothing that I'm worried about. If, on the other hand, you are living close to your budget and are on a tracker mortgage then you might start to get a bit twitchy. Inflation will hit those people hardest. Real inflation which includes real stuff most people have to pay like a mortgage. Edit: A lot of posters on her will have only known ridiculously low interest rates like we've had for the last 10 odd years. Old c***s like me remember their first mortgages which were at 15%. Mental to think about that now but there is no way they could go back to that ind of rate without bankrupting almost everyone in the country. Back of a fag packet calculation says 20 quid a month on a 100k mortgage? Not a massive amount in it's own right but will be noticeable if they move them up again any time soon. The UK economy is still overly reliant on debt for spending and that should probably mean another rise is unlikely in the near future. ETA: Think it was around 5.5% when I bought my first flat in '03 or '04. Even that sounds ridiculously expensive now. Edited November 2, 2017 by Ross. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted November 2, 2017 Share Posted November 2, 2017 f**k people with mortgages, I want cheaper Euros. Pump it up. 2 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted November 2, 2017 Share Posted November 2, 2017 13 minutes ago, Suspect Device said: Only taking it up to where it was before the post Brexit vote "panic" rate cut. No big deal and certainly nothing that I'm worried about. If, on the other hand, you are living close to your budget and are on a tracker mortgage then you might start to get a bit twitchy. Inflation will hit those people hardest. Real inflation which includes real stuff most people have to pay like a mortgage. Edit: A lot of posters on her will have only known ridiculously low interest rates like we've had for the last 10 odd years. Old c***s like me remember their first mortgages which were at 15%. Mental to think about that now but there is no way they could go back to that ind of rate without bankrupting almost everyone in the country. I remember the (in)famous day late 80's / early 90's when the rate rose about 3% in one day !!!! Luckily I'm long since mortgage free. As a tool to curb inflation this will make no difference it needs anouther couple at least to make people sit up and tighten their credit reliant belts ! 0 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted November 2, 2017 Share Posted November 2, 2017 2 minutes ago, welshbairn said: f**k people with mortgages, I want cheaper Euros. Pump it up. Today's rise was anticipated and actual has caused the pound to fall v the euro but I'm in full agreement 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted November 2, 2017 Share Posted November 2, 2017 2 minutes ago, welshbairn said: f**k people with mortgages, I want cheaper Euros. Pump it up. Been rising fairly steadily over the last few weeks. This drop has come just in time for my visit home this weekend. 0 Quote Link to comment Share on other sites More sharing options...
Lurkst Posted November 2, 2017 Share Posted November 2, 2017 29 minutes ago, Suspect Device said: Edit: A lot of posters on her will have only known ridiculously low interest rates like we've had for the last 10 odd years. Old c***s like me remember their first mortgages which were at 15%. Mental to think about that now but there is no way they could go back to that ind of rate without bankrupting almost everyone in the country. There'd be some bargain houses on the go though... 0 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted November 2, 2017 Share Posted November 2, 2017 2 hours ago, Ross. said: Been rising fairly steadily over the last few weeks. This drop has come just in time for my visit home this weekend. Pound taking a hammering today barely above 1.12 interbank. Was aboove 1.14 earlier in the week. 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted November 2, 2017 Share Posted November 2, 2017 Interest rates can never realistically normalise as the debt has piled up so much since the last crash. The global economy is basically insolvent, as it needs to borrow more money each year just to achieve the same level of growth, and this is with rates at historic lows. I'd really love to know how they plan to get out of this one. I reckon they're just winging it until the inevitable "nobody saw it coming" moment. 1 Quote Link to comment Share on other sites More sharing options...
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