Guarduan/Reuters: BoE to cut to 1.5% in Dec

WTF?_2

Good news for the bulls!

http://www.guardian.co.uk/business/feedarticle/8018323

BoE to cut rates in December, bottom now seen at 1.5%

* Reuters, Wednesday November 12 2008

By Jonathan Cable
LONDON, Nov 12 (Reuters) - The Bank of England is certain to follow up last week's stunning 150 basis point cut to interest rates with another 50 point chop in December as it tries to drag Britain out of recession, a Reuters poll found.
The poll of 57 economists, taken after the bank issued its quarterly Inflation Report, found rates falling further than previously expected, bottoming out at 1.5 percent in the second quarter as opposed to 2.0 percent in last week's poll.

In unrelated :rolleyes: news pound now at $1.5029 and €1.1971

michaels

!!!!!! this is not like you, please correct the thread title.

ad9898_3

Unfortunately its all too late, the economy is falling off a cliff, I fully expect for house prices to be 40%+ down from peak by the end of next year. In fact I think it's a shoe-in now

kennyboy66_2

!!!!!!? wrote: »

Good news for the bulls!

Oh dear !!!!!!, you really don't get it do you.

The ecomomy is going down the shi**er, inflation is falling and still people didn't want interest rates to come down.

ps it will make next to no difference to house prices.

baby_boomer

I think !!!!!! may be taking the Michael

WTF?_2

kennyboy66 wrote: »

Oh dear !!!!!!, you really don't get it do you..

Tut tut, why the surliness? I posted something which must unquestionably be great news for those thinking the recent cut was fantastic?

And you say I never post good news.....

The ecomomy is going down the shi**er, inflation is falling and still people didn't want interest rates to come down.

Of course, the pound can devalue with no consequences.

In a county which imports massively more than it exports.

Including food and energy.

Yup.

:whistle:

ps it will make next to no difference to house prices.

True - they'll be plunging until we see pay rises and the nationalised banks giving out zero percent no questions asked loans. *

Guess what - I don't post this stuff because I think it somehow is going to stop the house price crash, which you seem to think I crave.

I post it because it's a topic that will affect us all directly and worthy of discussion. You really, really need to understand that.

(* or around another 12-15 months, whichever is first)

Dan:_4

!!!!!!? wrote: »

Good news for the bulls!

http://www.guardian.co.uk/business/feedarticle/8018323



In unrelated :rolleyes: news pound now at $1.5029 and €1.1971

I don't understand your thing with the 'bulls' and the 'bears'.

To me, it's more like Borrowers vs Savers.

WTF?_2

Dan: wrote: »

I don't understand your thing with the 'bulls' and the 'bears'.

To me, it's more like Borrowers vs Savers.

That's a good point.

The bearish on housing tend to be savers.
The bullish tend to have large mortgage debt or property investment.

But not always. There are quite a few bearish people here who own their property outright, even multiple properties and BTLs.

Not many bullish people who haven't already bought. Mind you, if you were bullish about today's market the thing to do is buy.

Dan:_4

!!!!!!? wrote: »

There are quite a few bearish people here who own their property outright, even multiple properties and BTLs.

I suppose if your mortgage free you would be bearish, looking at taking advantage of trading up and/or adding to your portfolio.

monkeymaster

Dan: wrote: »

I don't understand your thing with the 'bulls' and the 'bears'.

To me, it's more like Borrowers vs Savers.

You can be leveraged up to the eye balls in property and still be a bear - it just reflects your view of the market at that time. At some time in the next couple of years I might be a bull :rotfl:

monkeymaster

In unrelated :rolleyes: news pound now at $1.5029 and €1.1971

Update, now $1.49445 down about 5 cents on the day and from a peak of $2.11 a year ago. Gonna get nasty.