Debate House Prices
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Bloomberg: Further BoE stimulus looking more likely.

HAMISH_MCTAVISH
Posts: 28,592 Forumite


Bank of England Governor Mervyn King is getting pushed back toward the printing presses as central banks in the U.S. and Japan turn their focus on more bond purchases to defend the global recovery.
King is battling to keep the economy from sliding back into recession as Prime Minister David Cameron prepares the biggest public-spending squeeze since World War II. Pressure to do more is building after the Federal Reserve signalled in the past two weeks it may buy more assets to bolster U.S. growth, while the Bank of Japan on Oct. 5 pledged further purchases.
“The debate has been shifting toward the argument in favor of loosening, and it’s likely we’ll see another step in that direction at this meeting,” said Jonathan Loynes, chief European economist at Capital Economics Ltd. in London. “When we see the gory details of the spending cuts it may knock confidence and that increases pressure on policy makers.”
Halifax house price index falling today will certainly speed this decision along.
Looks like Posen was right.
“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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I didnt realise it was in the BoE's remit to keep Halifax's house price index positive0
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HAMISH_MCTAVISH wrote: »Halifax house price index falling today will certainly speed this decision along.
Looks like Posen was right.
Im surprised you are posting this Hamish.
Have you changed your mind and joined the bears?0 -
Hamish, do you now agree with Capital Economics? You've always said they talked bollux0
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angrypirate wrote: »I didnt realise it was in the BoE's remit to keep Halifax's house price index positive
Then you clearly don’t understand how the government really works! House prices will be a foremost consideration, despite what the 'official' remit tells you.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Turnbull2000 wrote: »Then you clearly don’t understand how the government really works!0
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As if Mervyn is worried - his pension has been tucked away into linkers for years!0
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Silverbull wrote: »Im surprised you are posting this Hamish.
Have you changed your mind and joined the bears?
I predicted several months of falls this year.
Why would this be changing my mind?
The only difference between bulls and bears on this board is the outcome we see after the first falls occur.
Bears expect house prices to fall significantly for a long time with little or no intervention from the BoE and the Tories, and then stay low for many years.
Bulls expect house prices to fall briefly, then destabilise and drag down the wider economy, which would kick us into a double dip recession if left unchecked. And we expect the powers that be will not tolerate such a national crisis to happen as the result of a dysfunctional mortgage market. So further intervention (and price recovery) is pretty much guaranteed.“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_GHOULISH_CONSIPRACIES wrote: »BUY BRlCKS AND MORTAR NOW BEFORE YOUR LOSE THE VALUE OF YOUR SAVINGS. CLEAR BUY SIGNALS.
The men in white coats are coming for youMaidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
Looks as if Bruno is around... Still using an umbrella Bruno for personal satisfaction?0
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