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MSE News: Base Rate unchanged at 0.5%

edited 5 November 2009 at 1:25PM in Debate House Prices & the Economy
11 replies 205 views
Former_MSE_GuyFormer_MSE_Guy Former MSE
1.7K Posts
I've been Money Tipped! Newshound! Chutzpah Haggler
This is the discussion thread for the following MSE News Story:

"The Bank of England today announced it is holding the Base Rate at 0.5% for the ninth consecutive month ..."

Read the full story:
Base Rate unchanged at 0.5%

OfficialStamp.gif
«1

Replies

  • 12:00 05Nov09 BANK OF ENGLAND SAYS RAISES QUANTITATIVE EASING TOTAL BY 25 BLN STG TO 200 BLN STG
    12:00 05Nov09 BANK OF ENGLAND HOLDS KEY UK INTEREST RATE AT 0.5 PCT
    12:00 05Nov09 BANK OF ENGLAND SAYS TO COMPLETE NEWLY ANNOUNCED QE PURCHASES WITHIN THREE MONTHS
    12:01 05Nov09 BoE raises QE by 25 bln stg, leaves rates at 0.5 pct

    LONDON, Nov 5 - The Bank of England said on Thursday it would expand its quantitative easing programme by 25 billion pounds to help kick-start Britain's recession-hit economy.
    The increase brings the central bank's total asset-buying programme to 200 billion pounds, the equivalent of more than 14 percent of Britain's economic output.

    The BoE also left interest rates unchanged at a record low of 0.5 percent, as expected.

    Two-thirds of analysts had predicted the BoE would expand its asset-buying scheme, but opinion had been split on whether the increase would be 25 billion or 50 billion pounds.

    Conflicting signals over the health of Britain's economy had made this week's decision a difficult one to call. Britain's economy contracted unexpectedly in the third quarter, making the current recession the longest since records began more than 50 years ago, but more forward-looking surveys have painted a brighter picture. (Editing by Mike Peacock)
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • lemonjellylemonjelly Forumite
    8K Posts
    1,000 Posts Combo Breaker Mortgage-free Glee!
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    You were a minute late! :D
    (http://forums.moneysavingexpert.com/showthread.html?t=2057529 post 2 or 3)
    Market unsurprised? All as normal?

    I'm still worried...
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • lemonjelly wrote: »
    You were a minute late! :D
    (http://forums.moneysavingexpert.com/showthread.html?t=2057529 post 2 or 3)
    Market unsurprised? All as normal?

    I'm still worried...


    Cable likes it (as they didnt do 50bn) and has moved up to 1.6580 from 1.6530

    Futures are pretty much unchanged.

    Its all pretty much as expected :confused:
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • MSE_Guy wrote: »
    This is the discussion thread for the following MSE News Story:

    "The Bank of England today announced it is holding the Base Rate at 0.5% for the eighth consecutive month ..."

    Read the full story:
    Base Rate unchanged at 0.5%


    OfficialStamp.gif


    Hey MSE Guy, you should add into the header that QE was 25bn, as that was really the only issue here. Rate was never going to change.
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • kriss_boykriss_boy Forumite
    2.1K Posts
    Great, another £350 saving this month then!!
  • BenLBenL Forumite
    3.2K Posts
    ✭✭✭✭
    Don't worry Kriss, your £86 worse off overall by my quick back of stamp maths

    £25,000,000,000 / 60,000,000 (uk population) = £416 per person in the uk this has cost us.

    Take off the kids, unemployed, schoolies and retired folk it will probably about £1000 per working uk person this month.
    I beep for Robins - Beep Beep
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  • kabayirikabayiri Forumite
    22.7K Posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    BenL wrote: »
    Don't worry Kriss, your £86 worse off overall by my quick back of stamp maths
    Phew.

    I'm glad 'back of stamp' has replaced 'back of a fag packet'.

    We are so much healthier these days :)
  • Premier_2Premier_2 Forumite
    15.1K Posts
    10,000 Posts Combo Breaker
    ✭✭✭✭✭
    BenL wrote: »
    ...£25,000,000,000 / 60,000,000 (uk population) = £416 per person in the uk this has cost us...

    Not exactly. The £25bn is "quantitative easing".

    At least Hitler & Mugabe were open about it when they did it, using the more familiar term, i.e. printing money. :cool:
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • So this confirms that things have not been as rosy as some were trying to paint over the preceding two quarters, and that far from being a minor, 'yet to be revised' failure to break even on GDP last quarter there are in fact still serious concerns about the economy...
  • BenL wrote: »
    Don't worry Kriss, your £86 worse off overall by my quick back of stamp maths

    £25,000,000,000 / 60,000,000 (uk population) = £416 per person in the uk this has cost us.

    Take off the kids, unemployed, schoolies and retired folk it will probably about £1000 per working uk person this month.

    Your back of stamp maths calculation of £416 is just this month.
    Kris is saving the £350 every month
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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