October Base Rate Prediction

minimike2

Definately has to be a cut this month. 0.5% would be in order, but I suspect 0.25% this month, followed by a november hold then a further 0.25% in Decemeber.


So 0.25% cut gets my vote.

beecher

Yeah, I agree. Will be interesting when the cuts make no difference whatsoever, and credit card bills arrive in January - that's when it'll really start to hit home I think.

lisyloo

Will be interesting when the cuts make no difference whatsoever

It WILL make a difference to those with a contract for a BOE tracker mortgage.

However I will continue to overpay and have the difference wipe years off my mortgage (rather than spend it on clothes, beer, lattes etc.).

beecher

lisyloo wrote: »

It WILL make a difference to those with a contract for a BOE tracker mortgage.

However I will continue to overpay and have the difference wipe years off my mortgage (rather than spend it on clothes, beer, lattes etc.).

I meant that it wouldn't make a difference to the wider economy, and that by January people will realise we're in a recession, and might begin to work out just how deep it is going to be.

lisyloo

I meant that it wouldn't make a difference to the wider economy, and that by January people will realise we're in a recession, and might begin to work out just how deep it is going to be.

You are probably right on that score, although lowering rates should make it easier for businesses etc.
I think you a e right because confident deosn't turn round on a sixpence like that and some of the damage is already done i.e. there are businesses that can't now recover.

poppy10_2

I'm expecting a meaty 0.5% cut or greater. We are all doomed

sammyjammy

I voted decrease of 0.25%, sadly I think they will bow to pressure but I guess its good for businesses which may help the economy slightly in the short term

maveli

Have we got 2 running simultaneously ?

http://forums.moneysavingexpert.com/showthread.html?t=1196955&highlight=bofe

halight

I think that the rate will be cut this month, But i dont think that many banks will passs this on the the customer as thay are all trying to get and keep as much chash as thay can.

minimike2

maveli wrote: »

Have we got 2 running simultaneously ?

http://forums.moneysavingexpert.com/showthread.html?t=1196955&highlight=bofe

I dont go "over there" :P

Gorgeous_George

minimike2 wrote: »

I dont go "over there" :P

... because it's scary!

GG