Will the BOE rate cut affect sterling v euro?

[MelF]

Can we expect sterling to slide more against the euro as a result of the Bank of Englands today's .25 cut? If so, when will this work its way through? My husband is expecting 12k stg in his bank account this week or next so the timing is pretty bad I would think.

 

[demoivre]

No idea where sterling is going to be in the short term but if I were in your shoes I'd be taking this advice.

 

[MelF]

I don't think we can do the spotfixing thing. Payments come straight from a UK bank account to an AIB account and AIB say they can only give him the rate for the day it comes in?

 

[shanegl]

It seems the cut was pretty much expected. If that was the case, much of the effect would happen before the cut, not after. Any unexpected event would have an immediate effect.

 

[MelF]

Cheers, thanks for that!

 

[Upstihaggity]

can't you arrange to open a GBP interest bearing deposit account and have the monies paid in there?
You can expect to earn at 5.5% at the moment on GBP.