BofE Base Rate - October 2008

Gorgeous_George

I'm seriously expecting a cut this month. I have no idea if it will be a good thing or not but, a cut nevertheless.

What's more, I expect the cut to be more than 0.25%.

What do you think?

GG

p.s. I can spell 'decision' but these bleedin' wireless keyboards can't keep up!

Dan:_4

They will def cut this month.

beingjdc

Yep, big cut. To hell with the fact inflation is nearly 150% above target, they'll do it.

Dan:_4

beingjdc wrote: »

Yep, big cut. To hell with the fact inflation is nearly 150% above target, they'll do it.

I think there is more important things to worry about right now then the price of a loaf of bread.

mewbie_2

Dan: wrote: »

I think there is more important things to worry about right now then the price of a loaf of bread.

Funnily enough I think the price of a loaf of bread (as an example of all essential commodities) is arguably far more important than some incompetent bankers and the value of tower block shoe boxes.

Dan:_4

mewbie wrote: »

Funnily enough I think the price of a load of bread (as an example of all essential commodities) is arguably far more important than some incompetent bankers and the value of tower block shoe boxes.

Funnily enough I would rather have 100 quid off my mortgage every month then an extra 9p on a loaf of bread.

Kez100

I reckon they will keep it the same but I would like it to drop as much as possible as I am on a BOE tracker.

mewbie_2

Dan: wrote: »

Funnily enough I would rather have 100 quid off my mortgage every month then an extra 9p on a loaf of bread.

It's a great soundbite, and I don't have the intellectual capacity to argue with it. But someone will be along in a minute...

wolfman

mewbie wrote: »

It's a great soundbite, and I don't have the intellectual capacity to argue with it. But someone will be along in a minute...

Ooooo me me me.

It's not just the price of bread. It's everything you buy. Petrol, clothing, food, energy bills, holiday costs, you name it. And these have already hugely risen as it is.

So the £100 you save on a mortgage payment will probably be out done by the more expenses you incur during the months to come as inflation jumps up.

And to make matters worse, you'll probably cut back on your spending because of that. So will I so that I can save more. This slows the economy down even further, and pushes us towards a recession.

And the few that would like their mortgage payments reduced, or are struggling with payments, are a minority. Inflation going up affects everyone, even kids buying sweets, or OAP's getting a loaf of bread.

Dan:_4

wolfman wrote: »

Ooooo me me me.

It's not just the price of bread. It's everything you buy. Petrol, clothing, food, energy bills, holiday costs, you name it. And these have already hugely risen as it is.

So the £100 you save on a mortgage payment will probably be out done by the more expenses you incur during the months to come as inflation jumps up.

And to make matters worse, you'll probably cut back on your spending because of that. So will I so that I can save more. This slows the economy down even further, and pushes us towards a recession.

And the few that would like their mortgage payments reduced, or are struggling with payments, are a minority. Inflation going up affects everyone, even kids buying sweets, or OAP's getting a loaf of bread.

Inflation has now peaked, so as it stands a 100 quid extra every month will mean more time in the pub and buying DVDs. I could save it I suppose, but where's the fun in that?

wolfman

Dan: wrote: »

Inflation has now peaked, so as it stands a 100 quid extra every month will mean more time in the pub and buying DVDs. I could save it I suppose, but where's the fun in that?

It has peaked? Are you sure. Last time I checked it had increased. You can only compare with previous figures, and they're still increasing.