Dear Mark Carney,
I'm sure you're a very nice man but would you please just stop talking for a while.
Every time you speak you run the UK down a little bit more and the Pound takes a tumble.
Please just stop talking!
Yours sincerely
Dean

So here we are less than two months on from the Brexit vote and reality, like Suarez's teeth, is beginning to sink in. The Bank of England is in panic mode because of all the uncertainty (despite the fact that everyone else faces the same uncertainty but just gets on with life) and has cut UK interest rates to a record low of 0.25%. This in itself isn't too bad, but what really doesn't help is that Mr Carney then paints such a gloomy picture of the UK that investors panic and the Pound tumbles.

What this means for us in the cold light of day is that since the EU referendum back in June our support has lost 25% of its value in an incredibly short space of time. We realise that the GBP was flying a little too high at R24 to £1 but for the exchange rate to have plummeted down to just under R18 is really painful.

As if life wasn't tough enough in the first place. 

0 comments:

Post a Comment

Thanks for stopping by and leaving a comment, we really appreciate it!

Anyone can comment and all comments will appear immediately with no word verification or other layers of nonsense, but please note we will delete anything inappropriate such as spam or profanity. In fact blogger seems to have a penchant for removing spam which often saves us the hassle.

Thanks again.