August MPC Meeting = Base Rate HELD at 5.00%

minimike2

Dont know if this is good or bad. I was expecting a 25 point rise myself.

speedbird1973

Everyone on her expects a rise all the time!! apart from those with mortgage problems who expect a fall - well in reality hope for one! which generates huge amounts of amusing argument!

Bottom line is they're caught between a rock and a hard place. The fact that King has previously said he's not going to change interest rates purely to stop having to write letters to the govt speaks volumes to me.

I think they'll stay put for a few months yet. Well ok I "guess" they will

minimike2

I correctly predicted the last three months at hold...this is my first incorrect prediction in a while!

poppy10_2

No way would they have upped rates at a time like this. Political suicide (and no, the MPC is not 'independent.')

minimike2

"Times like this" - You mean with inflation at almost double its target? Seems like a good reason for an increase to me, especially as how the MPCs main purpose is to control inflation.

Dont get me wrong, im pleased it hasnt gone up, I have a tracker mortgage, I just think it *should* have gone up.

Dan_Collins_2

I dont think they know what to do. They want to lower inflation but they cant change that with one or two point jumps and if they lower it they give the wrong impression to the public.

Damned if they do, damned that they don't!

ManAtHome

Whatever they do means BA - the commercial banks have been setting rates for the last year. May as well carry on sitting on their hands and cashing the pay-checks (and they could save save a few quid in expenses by replacing one member with a "0.25% cut" cue card).