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Bank of England expected to hold interest rates
Comments
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Harry_Powell wrote: »I wish I had your confidence in the BoE and HM Government.
I wouldn't be surprised to see a jump from 0.5% to 2% in a single month.
haha
really cannot see that happening
what makes you think they would do something like that ?Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
'This leaves little doubt, too, that the next move for interest rates will be upwards.'
clever lot those newspaper people are. upwards or downwards from 0.5%? :T0 -
clever lot those newspaper people are. upwards or downwards from 0.5%? :T
where's brucie when you need him ?Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
inspector_monkfish wrote: »haha
really cannot see that happening
what makes you think they would do something like that ?
Do you think the 0.5% rate is motivated by politics or by a solid fiscal decision made by a truly independent central bank? I think it's the former and so when the political masters change, so will the rates.
A year ago would you ever have believed that we would see rates drop so fast, so far? Why do you not believe that they could also go up so fast and so far?
Have you gotten so used to 0.5% that you think that 2% is a high rate?"I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.0 -
There was a report recently expecting IR to remain at 0.5% until at least end of Q2 2010.
I suspect the IR news is not worthy news until they start rising:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Harry_Powell wrote: »Do you think the 0.5% rate is motivated by politics or by a solid fiscal decision made by a truly independent central bank? I think it's the former and so when the political masters change, so will the rates.
A year ago would you ever have believed that we would see rates drop so fast, so far? Why do you not believe that they could also go up so fast and so far?
Have you gotten so used to 0.5% that you think that 2% is a high rate?
2% is not high, but I do believe rises will start small till they analyse the impact.
No point ramping upwards unless absolutely necessary:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Most of the chat on this thread seems to be assuming that changes to UK interest rates will be proactive, i.e. the MPC shaping economic direction. I'd argue that many of their decisions are wholly reactive & the future won't be any different.0
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Most of the chat on this thread seems to be assuming that changes to UK interest rates will be proactive, i.e. the MPC shaping economic direction. I'd argue that many of their decisions are wholly reactive & the future won't be any different.
A very good point. And as far as things have gone then i would agree.
As as things satrt to move along and we print a bit more money (not to muh more but we will carry on for a while yet) and then enter +growth again. The BOE will put up rate by a small amout. But not too much or too fast as i think the new plan will be to let inflashion rise ( maybe quite high) to help pay down the Gov Debt. ( i dont think that this will be such a bad thing TBO) As the months pass thay will put IRs up by a small amout. When thay decide to bring inflashion down again thats when thay will start to hike them up! and yes we may even get up to 10%:eek: Which will really hurt some people. Im planning all my debt on the prostpect of IRs being 10% in 5 years time. Thats why iv cleared all my and my wifes debt down to £0 we only have the morage left and we are now paying that down too its slow going but in five years time we should only have about £40000 left.
this is a lot better than most of the country will be in. We brourt our house in 2006 for £86000 we put £6000 down on it. I would have thourt were we live we would now be in Ne as the houses here are just not selling. with in ten years i hope to be morage free:jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j0 -
About the only thing that will cause interest rates to go up soon is inflation.
If the government can't reign in spending then we may well start the increasing taxes and prices rising chain sooner rather than later.0 -
Probably true for BoE rates, but when was the last time you could easily get over 6 times BoE rates in any non-dodgy savings account..?About the only thing that will cause interest rates to go up soon is inflation
Maybe shortage of readies will force rates up despite the best efforts of Troosers & co.0
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