November Base Rate Predictions

minimike2

This month I have remembered a little further in advance to post the predictions poll!

It was an interesting one last month, with the majority (including myself) getting it wrong, with the masses going for -0.25%.

Its getting harder month on month now.....We clearly have a green light from number 11 saying to hell with inflation, yet are the MPC going to try not to be too knee-jerk?

I am of the opinion another 0.5% this time would be too much too soon (although being on a tracker I would love it to be that or more!) and so I poll as if I would vote myself, the same as last month at -0.25%, although I susptect I will be wrong again. Nothing they can do will stop recession, so why be too extreme with the base rate. IMO.

Vote away!

ManAtHome

Dunno - unless you're on a BoE tracker it doesn't seem to make a great deal of difference anyway.... BUT

Been quite a few reports on the box and radio about small businesses having overdraft facilities withdrawn - "your sector is too risky old chap". I suspect this is linked to the ever-widening gap between BoE and "real/market" rates (small business rates tend to be BoE+).

michalp

I have a life time tracker mortgage... any cut is like a christmas gift for me

LilacPixie

i'm predicting a hold at current rates followed by two .25 cuts the folowing two months.

minimike2

I am intetested in the reasoning behind the vote for the +.50% .....I almost didnt bother putting in anything over +0.25% but felt I may have been bludgeoned. lol.

Does someone REALLY think this will happen, or was it a more of a "want / think they should" vote?

ManAtHome

Could be a sign that BoE rates are totally irrelevant - maybe they should follow LIBOR instead of pretending to lead LIBOR..?

Beckymarshall07

Did anyone see Brown speaking on Sunday am this morning? Made a big hint saying 'when banks cut interest rates this week' - inevitable cut and i thinks it gonna be 0.5 cut.

koexelek

ManAtHome wrote: »

Dunno - unless you're on a BoE tracker it doesn't seem to make a great deal of difference anyway....

Very true. People got initially excited about the last 0.5%, but when it became clear the majority of lenders were not going to pass it on, it had little impact.

I dare say if there is another 0.5% cut ( which I expect) the lenders will just up their new trackers by 0.5% accordingly

poppy10_2

minimike2 wrote: »

It was an interesting one last month, with the majority (including myself) getting it wrong, with the masses going for -0.25%.

I got it right last time! :j

I reckon they'll almost certainly cut another 0.5% this time. Darling and Brown have been dropping heavy hints to the governor, and even the shadow chancellor George Osbourne has got into the act. so much for an independent MPC.

space_rider

I got it wrong last time as I voted that there wouldn`t be a change. I`m on a tracker too but I shall leave my payments the same whenever they do reduce it as what comes down does go up!

sarkin

Everything I read in the press points to not rate cutting but slashing, Its possible they will cut 1%.

Cutting rates is great for individuals, but for a country as a whole I would see this as a sign to the fact that we are in big trouble.

As I dont have any debts, mortgage or otherwise and money in the bank this is terrible for me, anyone mortgage to the eyeballs with lots of credit card debit will think xmas has come early.