Bank of England Base Rate - 4 September 2008

Gorgeous_George

With Alistair Darling admitting that the economy is going down faster than something going down very quickly indeed (or make up your own jokes), what do you think the Bank of England will do on Thursday.

Up, down or hold?

GG

poppy10_2

Where's the poll, dude?

Anyway, a hold is certain, as is Danny boy voting for a cut.

beecher

Still a hold I think.

Plasticman

Meanwhile, at the Bank of England...............

Member 1: "Inflation is getting out of control - put the rates up quick!"

Member 2: "The economy is going down the toilet - put the rates down now!"


Everybody else: "Who gives as toss. Let's just wait until it's too late, take our bonus and run like hell."

Chris2685

I think they should put it up, but they probably won't.

EdInvestor

They might start to cut.Apart from the political pressure which is getting very loud indeed, oil prices and commodity prices (eg food) are continuing to fall and all the energy rises are now "in the system". Looking forward to the long term (as they do), they could probably just about justify a cut now.The market is certainly factoring one in over the next couple of months, look at sterling.

The economy does need some help as the bank recovery is just not there yet.

beecher

With the extra £60 to make up for the changes to 10p tax rate going into many people's salaries this month I think the BoE will definitely shy away from a cut at the moment as this extra money is likely to be boost sales in the high street.

Jonbvn

FX markets seem to be pricing in a cut sometime before Xmas. However, I think this one will be a hold.

JF77

Hold! imho.

Treadmill

Down.. by 0.25% for the next three months

Treadmill

beecher wrote: »

With the extra £60 to make up for the changes to 10p tax rate going into many people's salaries this month I think the BoE will definitely shy away from a cut at the moment as this extra money is likely to be boost sales in the high street.

£60 won't make much diffrence to most people, hardly likely to spark a spending jag in my opinion