MSE News: Base rate held at 0.5%

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The Bank of England today announced it is holding the base rate at its 0.5% historic low for the 16th consecutive month ..."

Read the full story:
Base rate held at 0.5%

Peelerfart

OK then I'll start the customary responses with - YIPPEE !

ILW

I would like it to be at 7% plus, assuming inflation at around 2%.
Not much chance of that though.

JPS29

Peelerfart wrote: »

OK then I'll start the customary responses with - YIPPEE !

X 2:j:j:j:j:j:j:j:j:j:j

Arthurian

kent_money_saver

whats going to happen? will it go up? when? or stay the same?are the conlibs going to poke their oar in?
come on then what do you think?
typically before an election rates always go low, then afterwards wallop, up they go.:eek:

lee636

If i knew id be richer :(

Gorgeous_George

Rates CANNOT go up in the short to medium term. To do so would be financial suicide. That said, I'd put nothing past the ConDems.

Commonsense suggests rates should remain low for 5 - 10 years. I have a vested interest because I am a net borrower and a tax payer.

The ConDems have increased VAT which will be inflationary and they might use that as an excuse to raise rates. Anything to make thrich richer.

I just enjoy it while I can.

GG

ILW

Gorgeous_George wrote: »

Rates CANNOT go up in the short to medium term. To do so would be financial suicide. That said, I'd put nothing past the ConDems.

Commonsense suggests rates should remain low for 5 - 10 years. I have a vested interest because I am a net borrower and a tax payer.

The ConDems have increased VAT which will be inflationary and they might use that as an excuse to raise rates. Anything to make thrich richer.

I just enjoy it while I can.

GG

I would suggest that a few years ago the vast majority would have said that rates CANNOT go below 3%.
Cannot does not mean will not.

Gorgeous_George

ILW wrote: »

I would suggest that a few years ago the vast majority would have said that rates CANNOT go below 3%.
Cannot does not mean will not.

I agree. And the fact that they needed to be reduced to virtually zero suggests that this is not a short term fix. If it was they would have managed with JUST the quantatative easing programme.

GG

Kavanne

16th month of my mortgage at 1.25% yes!!