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BoE sees CPI below target in 2 years, risks balanced - no rate hikes for a long time
Comments
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lemonjelly wrote: »Erm, yeah.
However, interesting to see that IR's are expected to increase from mid next year onwards. Wonder what that could mean...
The economy improving
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
lemonjelly wrote: »Erm, yeah.
But these forecasts are based upon being in line with government spending plans aren't they? As discussed yesterday? Which will mean that they are on the optimistic side?
http://forums.moneysavingexpert.com/showthread.html?t=2069267
However, interesting to see that IR's are expected to increase from mid next year onwards. Wonder what that could mean...
No. They are expected to never increase. Ever again. Ever ever.
Hence Short Sterling Futures on the up today.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
lemonjelly wrote: »However, interesting to see that IR's are expected to increase from mid next year onwards.
Not quite......
Todays statement was as close to a denial as you're going to get from the BoE that rates will rise next year.
The specifically stated that inflation would be below target if they raised rates next year as the city had previously expected.
They also implied they were planning to ignore the upcoming inflation blip when VAT kicks in and from energy rises, to focus on mid term prospects.
Don't expect rates to rise in any meaningful way for a very long time. Certainly measured in years, and quite possibly half a decade or more.
Todays statement has absolutely killed any prospect of rate rises after the election. That hpc meme is dead in the water.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
This rates thing is interesting because it was one of the reasons pitted by some that HP might tumble and by others as need to hasten into the market for FTBs. I'm fraid anything much else is beyond me to night...0
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0.5% is pretty meaningful if you're on a 100% bubble era loan.0
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