Guess the rate date challenge...

cha97michelle

We can't moan really. We have had a great run at this rate. I am just frantically trying to pay off what i can now before it happens, but overall i am not as worried now as i would have been even 6-12 months ago.

Thank goodness for this board and overpaying.

financialbliss

Interesting. MPC minutes just been published today.

3 vote for rate increase - 6 vote to hold.

Reported on BBC and TiM plus other places, but I look daily at BBC business and TiM.

BBC:
http://www.bbc.co.uk/news/business-12549850

TiM:
http://www.thisismoney.co.uk/news/article.html?in_article_id=523504&in_page_id=2&ct=5

FB.

Spiggle

Hi FB,

Please may I have a go? I'd like to suggest 0.25% rise from 0.5% to 0.75% in June 2011. I know they're not supposed to be political but I think it'll hold until local elections etc are out of the way and the dust has settled from them.

Thanks for an interesting thread.

All the best,
Spigs

ETA: Hi FB, You haven't added me to the list yet and I've just realised May's decision meeting will be the same time as elections so have changed it to June 2011. Is that ok?

Thanks,
Spigs

financialbliss

Spigs,

Apologies for the delay - you're now added in and your 'vote' for June puts it a firm favourite at 4 votes.

Next rate decision due this Thursday at 12.00 noon. While I'm no expert on rates, I suspect a hold for present - the reason being the fragile economy:
http://www.thisismoney.co.uk/news/article.html?in_article_id=524818&in_page_id=2&ct=5

Feel free to have a stab at an increase date...

FB.

gallygirl

financialbliss wrote: »

Spigs,

Apologies for the delay - you're now added in and your 'vote' for June puts it a firm favourite at 4 votes.

Next rate decision due this Thursday at 12.00 noon. While I'm no expert on rates, I suspect a hold for present - the reason being the fragile economy:
http://www.thisismoney.co.uk/news/article.html?in_article_id=524818&in_page_id=2&ct=5

Feel free to have a stab at an increase date...

FB.

Wish I had your confidence FB , I suspect it may be tomorrow. If not then next month, which was my original prediction - which seemed v optomistic at the time so I'll be grateful we've had it low for so long :T

cha97michelle

I'm thinking it might be tomorrow. Hoping not, but all this hoping isn't going to work forever. I agree with you. 2 years has been a good run at it. Then the real hard work begins.

financialbliss

As my mortgage is dropping to the Nationwide standard variable rate next month, ie base rate + 2%, here's hoping the base rate stays low for a little longer.

Article to read from TiM site if you're at a loose end:
http://www.thisismoney.co.uk/news/article.html?in_article_id=525061&in_page_id=2&ct=5

FB.

financialbliss

Well, I'm currently firmly in the leave rates low camp at present (while I still have a mortgage), so pleased that they have been left unchanged today.

BBC:
http://www.bbc.co.uk/news/business-12700649

TiM:
http://www.thisismoney.co.uk/news/article.html?in_article_id=525143&in_page_id=2&ct=5

That's now 2 years running they have remained at 0.5% :eek:

Surely can't stay low for too much longer though?

Financial Bliss.

cha97michelle

Stops holding my breath for another month. I wonder if the ratio has gone up from 3 in favour. That might give us a bit more indication as to when.

Hey FB, at least you will get one month on the new rate minimum. It all helps. I've benefitted for nearly the whole 2 years, and i still don't feel i have done enough.

financialbliss

Ouch. CPI inflation jumpts from January 4.0% to February 4.4% as reported by BBC business and other sites such as TiM today:

BBC:
http://www.bbc.co.uk/news/business-12815228

TiM:
http://www.thisismoney.co.uk/news/article.html?in_article_id=526306&in_page_id=2&ct=5

The TiM articule suggests that we may not see a rate increase until August, which as a mortgage holder, suits me fine.

FB.