FED cuts by 0.5%

stevetodd

0.5% cut in USA interest rates today

Gorgeous_George

stevetodd wrote: »

0.5% cut in USA interest rates today

... to 1%!

I guess the questions now are:

1. How much will the UK Base Rate be cut?

2. How soon will they be cut?

and

3. How long will they remain lower than 5%?

I think they will be cut to 3.5% tomorrow (a week ahead of schedule) in a Europe-wide move and that they will stay below 5% for at last four years or until the Tories get in.

GG

stevetodd

Gorgeous_George wrote: »

... to 1%!

I guess the questions now are:

1. How much will the UK Base Rate be cut?

2. How soon will they be cut?

and

3. How long will they remain lower than 5%?

I think they will be cut to 3.5% tomorrow ( a week ahed of schedule) in a Europe-wide move and that they will stay below 5% for at last four years or until the Tories get in.

GG

I hope you are right, but I am expecting less (a 0.5% cut next week, but happy enough withthat), although there could be a co-oordinated Euroean cut sooner I suppose

hethmar

But will that make any difference to mortgage rates? Should that happen, all I can see is it making those dependant on their savings interest having a big struggle to get by.

Jonbvn

Wow!

Lowest in my lifetime, and I'm no spring chicken!

stevetodd

hethmar wrote: »

But will that make any difference to mortgage rates? Should that happen, all I can see is it making those dependant on their savings interest having a big struggle to get by.

It certainly will for me all of my mortgages on BOE trackers

sabretoothtigger

Im not sure the tories will get in, back in the early 90's even with a bad economy they held on for another term.
Strange but this crisis might have stopped the rot for labour, depending if any news is good by the election

I dont think its a global cut this time so .25 is more likely in uk

luvpump

hethmar wrote: »

But will that make any difference to mortgage rates? Should that happen, all I can see is it making those dependant on their savings interest having a big struggle to get by.

I am sure a u.k reduction will make some differance, but not much, The Banks have been well & truly Bitten !!.. & are very very shy ! .. Make no mistake this crisis is far from over ..

wymondham

Will be interesting to see what we do now ..... I can't see those sort of levels over here....

Still good news for One Account members today - 0.5% reduction from 3rd Nov!

BACKFRMTHEEDGE

sabretoothtigger wrote: »

Im not sure the tories will get in, back in the early 90's even with a bad economy they held on for another term.
Strange but this crisis might have stopped the rot for labour, depending if any news is good by the election

I think you might be right. I belong to a generation that would never, ever vote Conservative. Anyone who was a young adult in the early 80's will never forget. I think that is why the tories have been out of power for so long. I have friends who haven't voted for ages who intend to vote this time to "Keep the Tories out". Margaret Thatcher was a witch

scousethife

BACKFRMTHEEDGE wrote: »

I think you might be right. I belong to a generation that would never, ever vote Conservative. Anyone who was a young adult in the early 80's will never forget. I think that is why the tories have been out of power for so long. I have friends who haven't voted for ages who intend to vote this time to "Keep the Tories out". Margaret Thatcher was a witch

That was 20 years ogo !!!!!!

Do you honestly think this goverment is fit for purpose?

The country is on its rrrs everyone is skint and everything is a missmanaged shambles, record personal debt record national debt and they introduce laws like fineing people who put their bin out a day early.

They have lost the plot they dont actually know how to ajust to a downturn or public opinion.

Although if people hold a grudge against a party for 20 years even though non of that party actually exist in its ranks anymore then frankly therer is something wrong with the people and they get the government they deserve.