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What is going to happen to BOE Base Rate in Jan 2009

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Comments

  • steadysaver
    steadysaver Posts: 389 Forumite
    clobber wrote: »
    I have thanked you, not least because I love the word Bumhats and will try and shoehorn it into every conversation I have for the rest of the week.

    Happy Bumhats, everybody!

    It is one of the greatest expletive replacement words ever. Its up there with bumperklat
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    Interest rates to drop to zero and free mortgages for everyone




    33p4hsi.gif
  • steadysaver
    steadysaver Posts: 389 Forumite
    sabretoothtigger wrote: »
    Interest rates to drop to zero and free mortgages for everyone




    33p4hsi.gif

    Roadrunner never got caught though tbf.
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
    Part of the Furniture Combo Breaker
    Why do they call it commonsense when it ain't as common as we'd like.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • Pennywise
    Pennywise Posts: 13,468 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I just don't see the point of reducing the BOE base rate. Libor isn't falling anywhere near the same proportion which is what really matters. Aren't we in danger of encouraging people and business to borrow at today's artificially lower levels - people who are going to be well and truly screwed when interest rates rise back to normal levels. What's happened to the basic rules of supply and demand. If there is a shortage of money, surely interest rates should rise to encourage people to invest, thus giving the banks the money to lend at sustainable rates. As far as I understand it, banks don't have the money to lend to eachother - how does an artificial and unsustainably low interest rate help that. I know people and businesses who want to borrow money and they can't because the banks aren't lending - they would still want to borrow money at higher interest rates. The whole thing is completely illogical in my mind.
  • Swipe
    Swipe Posts: 5,765 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Current 1 year Libor rate is 2.09

    http://www.bankrate.com/brm/ratewatch/other-indices.asp
This discussion has been closed.
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