Why people want BoE rate to rise?

Really2

Cannon_Fodder wrote: »

I stated my VI in my first post on this thread. Not many others have...

So those who worked down pits are all zero-savers?

No-one down the pits, suffered in that industry AND was sensible with what little money they got?

Oh I missed your evidence.:rolleyes:

So you save the pensioners with savings (not the others it is their fault:rolleyes:)

what about this.

Really2 wrote: »

What about the economy, jobs etc. do those people not count or should they all be sacreficed for [STRIKE]you[/STRIKE] pensioners?

And what impact would that have on their savings?

I believe they need to be low it is not a case of wanting.(but I moved mortgages when I thought they we going to drop. why wouldn't I)

Cannon_Fodder

Thrugelmir wrote: »

From the figures you quote. The impact of the reduction of available credit is clearly illustrated through the quarters.

Yes, a bit chicken and egg? Which came first...

- did the lack of equity reduce those pursuing available credit.
- did the lack of available credit reduce equity being provided.
- did the worries about reducing equity restrain available credit.

Or some mixture of the 3...(and others I haven't formulated)...

Cannon_Fodder

Really2 wrote: »

So you save the pensioners with savings (not the others it is their fault)

What benefit do the non-saving pensioners get from a ultra-low IR?

What negative effect of current IRs do they need "saving" from...?

I'm all for saving them, if there's been a problem created. But lets identify it before going out spending more taxes.

The saving-pensioners have been affected, so should receive some consideration at least, if not help. Even if only an acknowledgement that rates will only stay low for X amount of economic recovery, not indefinitely, might help some to plan their expenditure.


As for answering the myriad points you make, its not humanly possible to do so.

Still waiting for anyone to give a decent answer to;

"If these low rates are deliberate to stimulate consumption, what do we do when the savings run out"??

i.e. what will drive consumption then, will we get the dreaded double-dip recession...

Thrugelmir

Cannon_Fodder wrote: »

Yes, a bit chicken and egg? Which came first...

- did the lack of equity reduce those pursuing available credit.
- did the lack of available credit reduce equity being provided.
- did the worries about reducing equity restrain available credit.

Or some mixture of the 3...(and others I haven't formulated)...

Lack of credit. What happened between Q2 and Q3 in 2008?

Wholesale funding collapsed when the markets dried up.

Jonbvn

davetrousers wrote: »

People who have paid off their mortgages and have savings would like interest rate rises.

Which completely misses the point that the key is the difference between your savings IR and the inflation IR. Correct me if I'm wrong, but for most peeps, the difference has never been larger (to the benefit of the savers)?

The important point with economics is that you should never think in absolute terms. Always think in relative terms.

mewbie_2

Jonbvn wrote: »

The important point with economics is that you should never think in absolute terms. Always think in relative terms.

No way are my relatives touching my stash.

maveli

kennyboy66 wrote: »

The HSBC account is good, except you need to pay for a current account with them to get it. Interest of approx £120 - bank charges of £135.
I'm out.

That was not true when I took it. I took HSBC Gree Advantage current account along with Regular saver. Bothwere fee free

vaporate

I deffinately want the rates up where they SHOULD be. Better for my Cash ISA.

socrates

maveli wrote: »

Me too enjoying the low rate. But don't overpay the mortgage but goes to HSBC's regular saver which gives 8% compared to the 0.73% mortgage rate.

I don't understand why people overpay when they can get 5+% interset on savers

Is that the one where you can pay £250 maximum per month and there is a monthly fee for the account?

hearts

vaporate wrote: »

I deffinately want the rates up where they SHOULD be. Better for my Cash ISA.

Rates ARE where they shouldbe. Or they wouldn't be there ;-)