will there be another rate cute this month?

illgetthere

so what does everyone think. Will there be another drop?
i think it'll be a 0.5% drop.

When is the decision made, is it the first thursday of the month?

sorry, no prizes for the winner...:D

beecher

Who usually sets up the poll for this?

I have no idea - I got caught out big time the last time round. I'll go for a 1% cut though.

lisyloo

It will be on Thursday and I would expect it to be 1%.
Some people are predicting 1.5%.

opinions4u

illgetthere wrote: »

so what does everyone think. Will there be another drop?
Yes

i think it'll be a 0.5% drop.
Robert Peston says it will be 1.0%. I'm sure that means the committee will comply.

When is the decision made, is it the first thursday of the month?
Yes

It doesn't, however, mean SVRs will come down by 1%.

Most lenders won't be able to deliver the cuts on their savings books to support this (if you check out savings rates at major providers, you'll see a number of accounts paying below 1% already).

It will be interesting to see if HM Government makes demands this time ...

illgetthere

sorry, have i started a regular poll. apologies if i have..

1.5% would be nice though..!

beecher

illgetthere wrote: »

sorry, have i started a regular poll. apologies if i have..

1.5% would be nice though..!

No, sorry was just thinking aloud about who normally starts a poll. Should be one later in the week I'd think.

Digsy00

Could be 1.5%
http://www.telegraph.co.uk/finance/economics/interestrates/3542051/Interest-rate-cut-Willem-Buiter-says-fears-of-run-on-pound-will-hold-back-MPC.html

koexelek

opinions4u wrote: »

It doesn't, however, mean SVRs will come down by 1%.

Most lenders won't be able to deliver the cuts on their savings books to support this (if you check out savings rates at major providers, you'll see a number of accounts paying below 1% already).

It will be interesting to see if HM Government makes demands this time ...

Quite right. They can't pass on another 1% cut unless they are made to

edgex

Decision will be announced 12:00 on Thursday.
The current rate is 3.0%
Inflation (CPI) is 4.5%


With their having been a vat cut, & various other measures announced in the PBR, the bank bail out still taking time to progress, & that end of the year, start of the new year is a quiet time for property markets anyway, they might not make a change at all.
It would then be a January change, maybe of 0.5%.

They wont want to cut too far too quickly, as theyll want to keep some cutting in reserve for later in 2009, if it becomes neccesary.

illgetthere

i cant see it staying the same. there has been no impact of the vat cut, and other measures havent really helped.
the only real saving is through the interest rate cut.

it'll be interesting to see though..

dazzaofdagenham

cant see another cut in december.

The 1.5% hasn't filtered through to me yet and wont until my Jan mortgage payment.

Notice that most of the credit card companyies havent altered there rates yet

Darren