BOE Rates hit 1.5%

RainMaker_2

adr0ck wrote: »

so 1% interest rates next month

followed by 0.5% in March

and then 0% in April

Therefore i predict that the BOE will start printing lots of money in May

anyone any thoughts?

Too aggressive. Although I think we'll be at zero before this year's out, the pace of cutting will and has slowed.

mr.broderick

misskool wrote: »

I know there are always heated discussions on this board, but can we please TRY to keep it from turning into a slanging match?

Pretty please, with a cherry on top.

Thank you

Oh shut up !!

mewbie_2

mr.broderick wrote: »

Oh shut up !!

Chicken. If you'd just said Shut it and left it at that then some of us would get the humour. Fair enough you might get banned but that would be funny too. But with the exclamation marks (2 of 'em) AND the smiley you've practically crawled to her for forgiveness.

I had a lot of respect for you before that post.

Note - no exclamation marks and no smiley. (I'll PM you an apology).

neverdespairgirl

speedbird1973 wrote: »

You started with nothing you still have nothing and for the next few years you'll still have nothing - ergo you are nothing!

Possessions don't make a person "something". That is very, very wrong.

neverdespairgirl

chucky wrote: »

I've moved out of that property now and have let it for 3 years on a non-housing act tenancy (I'll let you can work out the rent from what type of agreement it is)

Must be that it can't be as AST as over £25k in rent?

zarazara

How low can it go? when will the printing of money start?

Kez100

It can go to 0.

CDes

I'm in mixed minds this is good news for my student loan as the Student Loans Company will have to reduce the rates by a further 0.5% (will be 2.5%!) but my savings will suffer as HSBC have already confirmed they are passing on the rate reduction in full, and I currently have more in savings than my Student Loan amounts to (I'm a student at the moment!)

EDIT- sorry the student loan rate depends on what the major banks do with their SVRs should have made that clearer

skap7309

IveSeenTheLight wrote: »

Which is higher, your mortgage or your offset savings?
If it is your mortgage then you also would benefit from the drop

FTBer - hence no mortgage. Deposit (i.e. savings,) yes.

ad9898_3

I was reasonably happy with the cut today, it could have been worse and knocked to 1%. My opinion is the rate cuts have virtually no effect on house prices anymore, as I have always said they are good if you have a mortgage, thats all.

I'm still glad I don't have a house at this time, IR's don't bother me much either way, I'm losing out on my savings but with house price falls continuing I'm in line to buy outright in 3 years anyway, which is far better than paying any kind of interest rate on a mortgage.

Just to point out though if I did have a mortgage I would be ploughing every single spare penny I had into getting it as low as possible, these low rates will not be around long, 12 months maybe 2 years at most, then they will be on up. I wouldn't fancy being on a tracker 2% above base rate in 2 years, thats for sure.