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Next Season is going to be lot more Expensive!

 Poster: A snowHead
Poster: A snowHead
0.25% its not like the rate you boys offer Greece to help them out.
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
The Bank of England have raised interest rates to 0.50% with seven of the nine-person Monetary Policy Committee voting for such a move.

However, the Pound has promptly plunged on the outcome, confirming our warnings that there might be a "sell the fact" reaction to the well-signposted move.

Markets might have focussed on warnings contained in the statement that "all members agree that any future increases in Bank Rate would be expected to be at a gradual pace and to a limited extent."

"With the slack in the economy now significantly reduced and sluggish business investment limiting the economyís output potential, even a moderate rate of growth has the potential to generate core inflation in the medium and the long term. As previously communicated, the BoE expects further interest rate increases to occur at a gradual pace and to a limited extent," says Shileh Shah, Bond Strategist at Investec Wealth & Investment.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
LaForet wrote:
The key takeaway is that this is the first time in a long while that more than two of the MPC members are seriously discussing a rate rise. That's enough to make it a real possibility. If it does, it will be a rise of 0.25% and then a wait to see how this affects the market. The Bank will not increase rates more than 0.25% at a time.


Remember, you heard it some weeks ago back on Page 30 (27.9.17) here on Snowheads ....

For the full prediction and analysis, see http://snowheads.com/ski-forum/viewtopic.php?t=126155&start=1160

Who needs the F.T. when you've got Snowheads!
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0.25%, not exactly going to kill us is it?

I just paid the skiing holiday today - maybe I should have held back as I will be really worried that my spending money will buy me a few cents less............

Or.......who cares ?
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Anyway, snowHeads is much more fun if you do.
@stanton, So you don't post for 5 days as the pound soared (to match your hyperbole of plunged) and the rate is exactly the same as it was this time last week. If you wish to be taken seriously you will have to argue on a more even handed basis.

The raise in interest rates was inevitable, the UK economy emerged from the massive economic downturn before Europe. As masters of our own destiny on matters economic we have avoided the massive social problems caused by a one size fits all EU economic policy that the S Euro nations suffered.
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chocksaway wrote:
@stanton you will have to argue on a more even handed basis.


He can't - hand 2 is reserved for 'other' tasks Laughing
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Then you can post your own questions or snow reports...
On his 5 days away I guess he was on the Dutch website mentioned here: http://www.bbc.co.uk/news/world-europe-39854823
Afterall, it does mention "an army of aggressive, often anonymous, trolls".
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After all it is free Go on u know u want to!
The interest rate rise was suppose to correct the fall but its already been factored in by the markets ..

So the interest rate rise has done nothing for the Pound strength.

The NEXT two UK Interest Rate rises could be damaging allround.

Markets are forecasting a fall not a recovery due to the strength of the Euro Economy.
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@stanton, According to your predictions parity should already have happened! Tw#t!
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chocksaway wrote:

The raise in interest rates was inevitable, the UK economy emerged from the massive economic downturn before Europe. As masters of our own destiny on matters economic we have avoided the massive social problems caused by a one size fits all EU economic policy that the S Euro nations suffered.


Chocks I would be very careful about comparing UK growth the the EU. The EU is doing much better than the UK this year.
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@chocksaway,

Can you the Spot the Trend??

Trend going back years :

The UK did have high growth but has been in steady decline

The rest of the Eurozone has been gradually growing and has over taken the UK and out pacing !!

This is the latest data Q3 2017

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And love to help out and answer questions and of course, read each other's snow reports.

http://youtube.com/v/NKcwKSHd2cY
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@Stantroll, but that graph show Eurozone vs UK.

It would be interesting to see the 27 individual states vs UK..... I bet there's some better, some worse Toofy Grin
ski holidays     
 You know it makes sense.
You know it makes sense.
@martinm, but we are talking about skiing being more expensive & i think most UK folks ski in the Eurozone
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
stanton wrote:
@martinm, but we are talking about skiing being more expensive & i think most UK folks ski in the Eurozone


But your fkin chart was about GDP, not skiing, you total tw@t.
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 Poster: A snowHead
Poster: A snowHead
@martinm, you dont have to reply.. i mean really dont ..

Your ski holiday will be more expensive
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
stanton wrote:
@martinm, you dont have to reply.. i mean really dont ..

Your ski holiday will be more expensive


Still selling the snake oil Stanton?

What your considerable intellect cannot fathom is the conundrum that UK skiers have XGBP to spend on skiing, that exchanges to YEUR on whatever dangly bits exchange rate that exists at ZTime.
That will be the same for any movement in exchange rates.
Personally (micro-effect) I expect to spend LESS in resort because of the pound's relative value. AND the cumulative (macro-effect) of UK skiers spending less in ski resorts will do nothing other than mean increased cost-cutting by the TO's before Xmas!

My advise .......................... wait for the bargains.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
stanton wrote:
@martinm
Your ski holiday will be more expensive


It maybe but I consider myself well off.

And you chart is still about GDP, not the price of skiing Smile
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@bar shaker, Happy with that, I was making a point about economic cycles over the long term, as Stanton's graph clearly demonstrates the UK economy was growing well whilst the EU one was still shrinking, so they have some distance to cover to catch up. Also as a lot of that growth happens in a few large strong economies it disguises how bad it was in some countries exacerbated by their inability to control interest rates, the social impact of the global slump would have been a lot more palatable if local currencies could have devalued as would have happened in the days of the Lira, Peseta, Drachma, etc.
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The BBC says:

www.bbc.co.uk/news/business-41846637

"....The expectation is that rates will rise to just 1%, in two increases of 0.25%, one next year and one in 2020...."

yet the FT yield curve today for gilts is 0.47% over one year, 0.45% over 2 years, 0.5% over 3 years, and 0.55% over 4 years.

https://markets.ft.com/data/bonds

This means the market expects the bank rate to be 0.5% for 3 years, with a 0.25% rise in 2020.

I do not know who is right, but I reckon the latter is closer to reality than the former.
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Everyone should Ski in Switzerland. Its cheaper this year than last!
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Then you can post your own questions or snow reports...
twoodwar wrote:
Everyone should Ski in Switzerland. Its cheaper this year than last!


Much cheaper. And our season pass has been reduced from CHF950 last year to CHF666 this season Very Happy Very Happy
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
+1 for Switzerland - and if you're under-25 then the Annual Pass for 12 months in the 4 Valleys is only CHF 399 ........................ so you can come back in the summer as well.
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Well sin CE I went on the EOSB in 2017 and booked for the EOSB 2018 here is a comparison.

EOSB +£20
Flights -£80
Hotel in GVA -£18
Taxi to and from airport + £5

So a whopping £73 cheaper

Then factor in spending etc and the cost of food and drink at the EOSB and even if it was £23 more due to currency changes it will probably be about £50 cheaper.

My other ski holiday is about the same in total cost, and this year instead of getting a Ford Focus we have a Land Rover Discovery for a week. So for me it is cheaper overall. Note. I DIY on my ski holidays of use this wonderful site to go on bashes.
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@GlasgowCyclops, Eye, AND you get to spend one of them sharing with me..... gotta be worth a fair bit that ;-p
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snowHeads are a friendly bunch.
chocksaway wrote:
@bar shaker, Happy with that, I was making a point about economic cycles over the long term, as Stanton's graph clearly demonstrates the UK economy was growing well whilst the EU one was still shrinking, so they have some distance to cover to catch up. Also as a lot of that growth happens in a few large strong economies it disguises how bad it was in some countries exacerbated by their inability to control interest rates, the social impact of the global slump would have been a lot more palatable if local currencies could have devalued as would have happened in the days of the Lira, Peseta, Drachma, etc.


Totally agree.

The irony is that the Euro was a massive devaluation for Germany, when it joined. Linking the likes of Greece and Portugal to the Euro's price means it still trades way below what a free Dm would be trading at. Greece's problems are still far from resolved but are being better managed. Fortunately inflation (over 2%) is hard to find anywhere in the G7, for the EU mostly due to the movement of labour from the Eastern European countries.

The same cannot be predicted for the UK, if the taps for labour supply are indeed turned off. If I were forced to make a prediction it would be that we end up with a Free Movement Lite and a Single Market Lite at the end of it. No matter what the knuckle draggers want, the economic sense of retaining both of these options is overwhelming.
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And love to help out and answer questions and of course, read each other's snow reports.
Gas prices up before Xmas

https://www.cnbc.com/amp/2017/11/06/saudi-power-struggle-means-oil-prices-will-hit-70-before-50.html
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stanton wrote:
Gas prices up before Xmas

https://www.cnbc.com/amp/2017/11/06/saudi-power-struggle-means-oil-prices-will-hit-70-before-50.html



I'm not even gonna post a link to an irrelevant chart, but 'gas' price - or 'oil' as we refer to it- is at an historically low price and has been for some time.
ski holidays     
 You know it makes sense.
You know it makes sense.
stanton wrote:
Gas prices up before Xmas

https://www.cnbc.com/amp/2017/11/06/saudi-power-struggle-means-oil-prices-will-hit-70-before-50.html


Brexit strikes again.....

Oh wait... this has absolutely nothing to do with it, nor will it make this season more expensive

Running out of links are we bud?
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
@PaulC1984, i know but its timely.
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 Poster: A snowHead
Poster: A snowHead
Brent crude oil price in $'s over last month

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Obviously A snowHead isn't a real person
Bigtipper wrote:
Brent crude oil price in $'s over last month



Still very low though.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Watch out for the Secret Brexit impact Reports later today

https://www.futurecurrencyforecast.com/euro-to-pound-advance-may-come-from-plans-for-eurozone-budget-42325
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stanton wrote:
@PaulC1984, i know but its timely.


Timely in what sense?.....

In the sense that your topic was no longer on the first page so needed a boost to bring it back into the limelight?!
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stanton wrote:
Watch out for the Secret Brexit impact Reports later today

https://www.futurecurrencyforecast.com/euro-to-pound-advance-may-come-from-plans-for-eurozone-budget-42325


Quote from te artcile: The Poundís gains may conversely fall away in the near-term, depending on the UK governmentís post-Brexit predictions.

That's a whole lot of if, buts and maybes, it almost sounds like you wrote that paragraph Toofy Grin
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@PaulC1984, wait for the impact documents
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Here's a nice BBC headline: 'UK wellbeing rises after Brexit vote'

http://www.bbc.co.uk/news/health-41893598
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BoardieK wrote:
Here's a nice BBC headline: 'UK wellbeing rises after Brexit vote'

http://www.bbc.co.uk/news/health-41893598

Let's hope "Wellbeing" equates to, "Being Well" - as the waiting list for Orthopedics in NI is 3 years and there is a predicted NHS meltdown this winter, with a lack of Nurses to man the wards.
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Old Fartbag wrote:
BoardieK wrote:
Here's a nice BBC headline: 'UK wellbeing rises after Brexit vote'

http://www.bbc.co.uk/news/health-41893598

Let's hope "Wellbeing" equates to, "Being Well" - as the waiting list for Orthopedics in NI is 3 years and there is a predicted NHS meltdown this winter, with a lack of Nurses to man the wards.


I live in the EU just over the border from you. Iíve just prolapsed my L5S1 disc and canít do much other than lie down right now. Iíve seen my GP, which I paid for and am now on the HSE (ROIs version of the NHS) waiting list to see the orthopedic consultant. I just shelled out Ä300 to see the same consultant privately and he said he would expect to see me in approx 3 years time for the consultation on the HSE list then 3-4 years wait for surgery. So thatís seven years wait for surgery for me, unless I come up with Ä8k in cash when I can have it next week.



In summary 3 years - from where Iím sitting that sounds great.
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rogg wrote:

I live in the EU just over the border from you. Iíve just prolapsed my L5S1 disc and canít do much other than lie down right now. Iíve seen my GP, which I paid for and am now on the HSE (ROIs version of the NHS) waiting list to see the orthopedic consultant. I just shelled out Ä300 to see the same consultant privately and he said he would expect to see me in approx 3 years time for the consultation on the HSE list then 3-4 years wait for surgery. So thatís seven years wait for surgery for me, unless I come up with Ä8k in cash when I can have it next week.
In summary 3 years - from where Iím sitting that sounds great.


That sounds brutal - is that length of wait common across healthcare in the republic, or is that specific to your operation / ortho ?

I know people in the UK moan about the NHS, but 3 years to even have a consultation is incredible.
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