How long at 0.5%

Wookster

inspector_monkfish wrote: »

haha, maybe they did (think he owns west ham now )
but you cannot compare Iceland with UK

Well there is some distance to go but there are also some similarities.

inspector_monkfish wrote: »

Also, the Icelandic base rate is only 13%
(quite a bit better than 18%, but still shocking)

Ooops my bad - a friend of mine was living there with his girlfriend and he said interest rates were 18%, so that must be bank rates, rather than the base rate.

Dithering_Dad

inspector_monkfish wrote: »

Its the Bank of England that decide whether rates go up or down, not the politicians.

I think you will find the US economy is still (to quote from Snatch) proper ph u cked !

No, I don't agree.

Sorry, but if you believe that the BoE are really independant then you're naive.

Gorgeous_George

Until the Tories win the election. Then back up to 15% with tax cuts for the rich and VAT to 25%.



GG

julieq

Good job the people offering long term low fixed rates can't see the same things you can DD. Better keep schtum while we all take them to the cleaners. :rotfl:

inspector_monkfish

Wookster wrote: »

Well there is some distance to go but there are also some similarities.



Ooops my bad - a friend of mine was living there with his girlfriend and he said interest rates were 18%, so that must be bank rates, rather than the base rate.

well they have cut from a high of 18% to 13% in the past 3mths, including 2.5% today


quite a bit of distance to go, when you compare they have about 300,000 people living there, and we have 60million !!;)

inspector_monkfish

Dithering_Dad wrote: »

Sorry, but if you believe that the BoE are really independant then you're naive.

not at all m'luv;)

i am not denying they do not talk things over with the government from time to time, but end of the day the MPC make their own decisions

i am a trader in the GBP interbank cash market
i have a pretty good idea of what makes the markets move, and how the BOE work


End of the day, no-one can exactly predict whats going to happen over the coming months and years. After what has happened over the past 12mths, nothing will ever surprise me now!! We are in totally unchartered water now - making it extremely difficult to compare to anything that has ever happened in the past.

Dithering_Dad

julieq wrote: »

Good job the people offering long term low fixed rates can't see the same things you can DD. Better keep schtum while we all take them to the cleaners. :rotfl:

They can, that's why we're seeing the rates increasing (and the fees). A few weeks after I first started advising people to get fixed, A&L brought out a 3.99% 5 year fix that was fee free. This has gone and has been replaced by products with higher rates and quite high arrangement fees.

You're great on mockery julieq (or whoever you really are) but a bit thin on detail. Why not describe (in detail) why you think we won't see high interest rates? Oh and please leave out any non-relevent things like roulette if possible .

*DD pulls up his chair and waits in anticipation at julieq's explanation.*

Dithering_Dad

inspector_monkfish wrote: »

i am a trader in the GBP interbank cash market

Christ, no wonder the economy is phooked.

lostinrates

Dithering_Dad wrote: »

Sorry, but if you believe that the BoE are really independant then you're naive.

TBF I was wrong in my reply...even though I know it is the BoE who set rates my reply was vague, and out of focus, and clearly reads as such! I didn't understandit when I re read it, lol. So its ore than fair for Inspector Monkfish to make it clear it is the BoE in his/her responding posts.

inspector_monkfish

Dithering_Dad wrote: »

Christ, no wonder the economy is phooked.

thats quite funny actually !!:rotfl::rotfl: