Guess the rate date challenge...

cha97michelle

Blimey. That has come round quick again. I've stopped worrying so much now I think as I used to know about this without seeing a reminder from you.

financialbliss

Later lunch today, but base rate held at 0.5% again.

BBC:
http://www.bbc.co.uk/news/business-14402971

TiM:
http://www.thisismoney.co.uk/money/news/article-2022358/30-months-0-5-rates-Bank-England-ignores-inflation-protect-fragile-economy.html

FB.

financialbliss

Another interesting article from the BBC if interest rates float your boat:

http://www.bbc.co.uk/news/business-14386958

FB.

financialbliss

Forgot to update post #1 after the August rate decision. We've lost another 4 challengers:

7. pencekeeper: August 2011 - INCREASE :0.5% to 1%
10. Nitramak62: August 2011 - INCREASE : 0.25% to 0.75%
17. mlz1413: August 2011 - INCREASE : 0.5% to 1%
29. uzubairu: August 2011 - INCREASE : 0.25% to 0.75%

Anyone brave enough to have a guess?

Growth forecast for 2011 down from 1.8% to "about" 1.5% - BBC business article.
http://www.bbc.co.uk/news/business-14472805

Does the "about" mean they will to revise it further downwards?

Wonder if this means a further push back for base rate increases?

FB.

someday_soon

I'll have a go at March 2012 FB- up 0.25

Green shoots of recovery and all that.

Really hope we get to 12/12 though

Cheers

SS

uzubairu

Who would have thought that I would be happy to lose a challenge.

After September's mortgage payment, we will have cancelled out the £2K ERC we paid last year to switch from a fixed rate (4.79%) to a lifetime tracker (BR + 1.79%).

I'm hoping for another 6/9 months, and hopefully at that point the mortgage will low enough for it not to be worth the hassle of looking for another product.

financialbliss

Via article on BBC news today:
http://www.bbc.co.uk/news/business-14556469

A vote of 9:0 to keep rates on hold in August. Bit of a turnaround here. Suspect that adds fuel to the fact that we may not see a rate increase until well into 2012.

FB.

financialbliss

In case anyone is interested - a bit of housekeeping.

Added someday soon into post #1, updated the graph of MPC voting and updated the graph of dates people have chosen for this little challenge, ie MSE Voting summary.

Also updated post #1 to reflect next MPC decision of 8th September.

FB.

Phelpsie001

I'd guess that rates will be kept at 0.5% for at least another month ... High fuel and food prices account for most of the high inflation and so I am guessing that the BoE will recognise this and keep interest rates low in the interests of growth and investment....

financialbliss

Base rate decision tomorrow. Just looking around on a few sites to see if there's any indication of what could happen tomorrow and spotted this from TiM:

http://www.thisismoney.co.uk/money/news/article-1607881/Interest-rates-News-predictions.html

But by the start of August, futures markets were pencilling in early 2013 for the first increase. Now, following the massive stock market turbulence and government debt fears, markets suggest the first rise will be late 2014. :eek::eek::eek:

Doesn't sound right - I'd certainly hope to be mortgage free well before then and will have savings to grow.

I'll suggest a no change in rate result for tomorrow...

FB.