What will the BOE rate be set at this month?

pickles110564

What will Broon get the BOE to set their base rate at this month?

Cannon_Fodder

Probably 0.5%.


Part of me would be scared of 0%, but happier that at least they would get on with the promised QE, so that we can get on with seeing it work or fail, as the case may be.

Then we might eventually get back to relatively normal rates.

dealsearcher

It's 1.5% now so I reckon 1%. Even now any lowering will not make a lot of difference to most people. Loans, mortgages, credit card rates are all mostly higher than that anyway. What really matters is LIBOR.

If it went right down to 0.5% the the bank has no further room to manoeuvre.

They need to get the government to make banks lend to small businesses at sensible interest rates and charges.

lisyloo

It's 1.5% now so I reckon 1%.

No it isn't.
It's 1% now.

I think they will drop to 0.5%.
It won't make much difference but they might face criticism if they don't.

saveallmymoney

The base rate is currently 1%, going down to 0.5%

Kez100

Yep.0.5.

Next month either to zero or 0.1/0.01 whatever is the done thing

Rikki

Cannon_Fodder wrote: »

Probably 0.5%.


Part of me would be scared of 0%, but happier that at least they would get on with the promised QE, so that we can get on with seeing it work or fail, as the case may be.

Then we might eventually get back to relatively normal rates.

:eek: Can my savings really earn no interest at all?

Kez100

Yes!

Having said that, it's what happens to your personal inflation that matters. If that is very low or we get deflation you may not be as bad off as you imagine.

However, I suspect deflation is all part of our Governments excess wind. In terms of the things we pay for on a monthly basis anyway.

StevieJ

Rikki wrote: »

:eek: Can my savings really earn no interest at all?

Interest on my current account is set at BR -1%, looks like I will be paying them

Martinslovechild

pickles110564 wrote: »

What will Broon get the BOE to set their base rate at this month?

If I didn't have an eye on finance, I'd probably have said 17.0% judging by the recent increases on my Egg Card.

Yes, increases. Anybody would think we'd been hit by an inflationary tsunami recently. After all, it wasn't long ago that they were charging me just 6.9% on the same card!!.

Anyway, I agree with nearly everybody else here (apart from the poster who thinks that Bank Rate is currently 1.5%!!) that Bank Rate will likely be reduced to 0.5% tomorrow.

lethal0r

i think most people are saying 0.5% without even thinking about it, that because of all the recent frequent large drops it is a matter of course. but if the government was planning to drop to 0.5%, then why didnt they just do it last month? they dont get to learn much about any changes in the economy in a single month.

my view is no drop, but i'll cheat and also offer a maximum of a 0.25% drop.