BoE's Kate Barker - Rates could stay low for some time

inspector_monkfish

The Guardian

British interest rates could stay low for some time and it is still not clear whether the pick-up in the economy will prove durable, Bank of England policymaker Kate Barker was quoted as saying on Wednesday.

http://www.guardian.co.uk/business/feedarticle/8550818

Really2

inspector_monkfish wrote: »

The Guardian

British interest rates could stay low for some time and it is still not clear whether the pick-up in the economy will prove durable, Bank of England policymaker Kate Barker was quoted as saying on Wednesday.

http://www.guardian.co.uk/business/feedarticle/8550818

Now the question is do you believe the people who actually set it or somebody spouting off on the internet saying they are going to shoot up as they want/need defaults to happen:)

inspector_monkfish

shes a woman
means she'll probably be right in the end.....

neil324

Really2 wrote: »

Now the question is do you believe the people who actually set it or somebody spouting off on the internet saying they are going to shoot up as they want/need defaults to happen:)

and in the real world

http://www.introducertoday.co.uk/News/Story/?storyid=1592&title=Fixed_rate_Mortgages_set_for_imminent_increase&type=news_features

chucky

neil324 wrote: »

and in the real world

http://www.introducertoday.co.uk/News/Story/?storyid=1592&title=Fixed_rate_Mortgages_set_for_imminent_increase&type=news_features

the regulars on this forum think that the same article is VI
http://forums.moneysavingexpert.com/showthread.html?t=1742857
we can't really have it both ways - well you can but it's a bit silly don't you think?

purch

she'll probably be right in the end

:eek:
Probably ???? :eek:

and in the real world

I'm sure you must be right. The 'talking numpty head' from John Charcol has far more influence on where the BOE set's the base rate than a member of the MPC !!!

What were we thinking ??? :rotfl:

neil324

chucky wrote: »

the regulars on this forum think that the same article is VI
http://forums.moneysavingexpert.com/showthread.html?t=1742857
we can't really have it both ways - well you can but it's a bit silly don't you think?

Ok then???????????????????????????????????

http://www.ftadviser.com/FTAdviser/Mortgages/Products/Fixed/News/article/20090609/6ec0d5d0-54e1-11de-b9ea-0015171400aa/Nationwide-overhauls-mortgage-range.jsp

http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/5444321/Interest-rates-credit-card-rates-rise-despite-low-Bank-Rate.html

http://www.businessweek.com/smallbiz/running_small_business/archives/2009/05/small_business_7.html

So Purch, Kate can do and say what she likes.

inspector_monkfish

neil324 wrote: »

Ok then???????????????????????????????????

http://www.ftadviser.com/FTAdviser/Mortgages/Products/Fixed/News/article/20090609/6ec0d5d0-54e1-11de-b9ea-0015171400aa/Nationwide-overhauls-mortgage-range.jsp

http://www.ftadviser.com/FTAdviser/Mortgages/Products/Fixed/News/article/20090609/6ec0d5d0-54e1-11de-b9ea-0015171400aa/Nationwide-overhauls-mortgage-range.jsp

http://www.ftadviser.com/FTAdviser/Mortgages/Products/Fixed/News/article/20090609/6ec0d5d0-54e1-11de-b9ea-0015171400aa/Nationwide-overhauls-mortgage-range.jsp

So Purch, Kate can do and say what she likes.

Neil, with respect, I think we are all talking about different issues here.

I just started this thread as an indicator of how a member of the MPC feels about the current BOE base rate.

You have brought up a subject about mortgage lenders rates.

Sure they are linked, but it wasn't my intention to suggest that Kate Barker feels that mortgage rates will remain at the same level as they are now. Only BOE rates.

bendix

Really2 wrote: »

Now the question is do you believe the people who actually set it or somebody spouting off on the internet saying they are going to shoot up as they want/need defaults to happen:)

This woman may or may not have a great deal of influence over BofE official rates. And the BofE rate may or may not stay at 0.5% for another year or so.

It's all moot, because at the end of the day the interest rates that interest you and me are mortgages, term deposits and credit rates, none of which are linked inextricably to the BofE rate. They may tip a nod to the BofE rate, but the financial institutions are completely free to set retail rates at whatever level they choose.

And, frankly, those are starting to track higher as banks seek to get greater security on dodgy loans made a few years ago and - of course - seek to raise profits.

Anyone who thinks otherwise or is seeking comfort in BofE blandishments is being very naive.

neil324

inspector_monkfish wrote: »

Neil, with respect, I think we are all talking about different issues here.

I just started this thread as an indicator of how a member of the MPC feels about the current BOE base rate.

You have brought up a subject about mortgage lenders rates.

Sure they are linked, but it wasn't my intention to suggest that Kate Barker feels that mortgage rates will remain at the same level as they are now. Only BOE rates.

Of course its relevant. The BOE base rate is detached from reality.

chucky

neil324 wrote: »

Of course its relevant. The BOE base rate is detached from reality.

bendix wrote: »

Anyone who thinks otherwise or is seeking comfort in BofE blandishments is being very naive.

you'll find that the BOE set's it's own base rate.
mortgage rates that you refer to are set by the markets.

they are different things...