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Ernst & Young: Rates won't rise until 2014
HAMISH_MCTAVISH
Posts: 28,592 Forumite
Interest rates will stay low until 2014, predicts E&Y
Interest rates will remain at their current record low until 2014 as the economy staggers back to sustainable growth, a leading economic forecaster has predicted.
By Philip Aldrick
Published: 10:54PM BST 24 Jul 2010
The Ernst & Young ITEM Club said the Bank of England will have to resist calls to raise rates above 0.5pc for more than three years to counterbalance the Government's growth-sapping austerity cuts.
Peter Spencer, ITEM's chief economic adviser, added that the Bank may even have to restart its £200bn quantitative easing programme.
Wow....
What an incredible bonus that will be for anyone with a cheap variable rate mortgage.
And if they don't even start rising til 2014, it may still be years after that until they reach the new neutrality point of 3% or so.
The best part of a decade with ulta low rates.....
Top Money Saving.....:D
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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And RPI inflation at ~5%, thereby achieving Condem policy objective of letting sustained inflation in real-terms erode the public debt and pension liabilities, since they are only going up on CPI.0
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Great news for first time buyers taking advantage of the drop in prices.
Don't forget, lower prices enable more people to buy."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Don't forget, lower prices enable more people to buy.
Epic Fail.....
2007 average transactions 120K+ per month.
2009 average transactions with prices down 20% or so more like 60K or 70K per month.“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 -
The same Peter Spencer that said that the UK GDP would struggle to grow 1% this year?0
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HAMISH_MCTAVISH wrote: »Epic Fail.....
2007 average transactions 120K+ per month.
2009 average transactions with prices down 20% or so more like 60K or 70K per month.
I don't listen to HPI cheerleading bullsh1tting debt-junkies McTittish.
Your nonsense might convince some but not me.
Prices have been falling for a long time now and transactions are rising."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
If this did pan out, which personally I doubt, savers and pensioners would be brunting by far the biggest cost of the recession.
Something which would be unfortunate, considering it was debt that caused it, and those with debt who would be brunting the lowest cost, and infact, in many cases, prosper.0 -
Low rates = economy struggling to recover. But Hamish can recover. So on a personal note, sounds like very good news. Well done Hamish!0
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Chaos_A.D. wrote: »
And don't try to kid us either, you're buried upto your eyeballs otherwise you wouldn't be on here 24/7 finding 'good news' to post and hoping for some backslapping of the other bulls to make you feel better
I'm intrigued as to how your logic applies to those on here 24/7 finding bad news to post, such as yourself.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Chaos_A.D. wrote: »Hehe, breathed a sigh of relief there mate, I guess along with other debt slaves, it'll keep the reaper from your door for a few more years if it comes to pass hey.
And don't try to kid us either, you're buried upto your eyeballs otherwise you wouldn't be on here 24/7 finding 'good news' to post and hoping for some backslapping of the other bulls to make you feel better
I'm one of the 'debt slaves' and if this report is true, it'll do more than just keep the reaper from the door, it'll establish a positive financial base for myself and my family that will last a lifetime.
I dont want to pry, but I've noticed some of your other posts and it seems that you are mortgage free? Do you mind me asking how you achieved this and what size/style house you and your family live in? If this is too personal or giving away too much info on a forum, then please feel free to ignore me. I'm just nosy about other people's circumstances.:o0 -
that's 4 or 5 bites you got their Hamish... :THAMISH_MCTAVISH wrote: »Epic Fail.....
2007 average transactions 120K+ per month.
2009 average transactions with prices down 20% or so more like 60K or 70K per month.
don't let facts get in the way of deluded nutters on an internet forum though... there'll be more of them popping into this thread i'm sure...
interest rates will go up when they need to go up, probably once QE needs to be unwound or the majority of the debt is paid back.0
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