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Uk rates remain at 0.5% for 20th month in a row!

http://www.bbc.co.uk/news/business-11694582

Hardly a surprise in this is there?
Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Though one month closer to a rise in rates......
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Batchy wrote: »
    http://www.bbc.co.uk/news/business-11694582

    Hardly a surprise in this is there?

    Hang on.....





    wait a mo'.....




    I know it's here somewhere....




    bear with me....




    ah, here it is:




    :eek:





    ;)
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    rates continuing at 0.5% isn't exactly good news - it means that we're still in 'recovery' mode and the economy needs rates this low.

    people claiming it will be carnage when rates rise are mistaken... when rates do start to rise it will be good news as the economy will be in a much better condition...
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    chucky wrote: »
    rates continuing at 0.5% isn't exactly good news - it means that we're still in 'recovery' mode and the economy needs rates this low.

    people claiming it will be carnage when rates rise are mistaken... when rates do start to rise it will be good news as the economy will be in a much better condition...

    Only if Merv & co call it right.

    If they call it wrong, it could get all giggedy giggedy goo!:eek:
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Heyman_2
    Heyman_2 Posts: 1,819 Forumite
    They were caught on the hop last time, IIRC former MPC member Tim Besley was still calling for interest rate rises a couple of months before they started slashing them back in late 2007!

    Hopefully they will be on the ball this time and start doing it when it needs it and not before/after!
  • amcluesent
    amcluesent Posts: 9,425 Forumite
    Yep, policy is to let inflation run ahead of rates by 3% for a couple of years to take the sting out of debts.
  • I can really see the economy somersaulting back into action when the extra 2.5% is lumped on VAT in Jan.
  • Should've reduced BR to Zero%.

    That would reduce mortgage payments by 1/3rd. Also it might change the shape of the savings threads a little bit. No more "Post Office opens 2.9% Internet saver......", but, instead, "Good news, Santander Instant Platinum e-Saver reduces savings-charge from 1% to ½%.....
  • ILW
    ILW Posts: 18,333 Forumite
    Should've reduced BR to Zero%.

    That would reduce mortgage payments by 1/3rd. Also it might change the shape of the savings threads a little bit. No more "Post Office opens 2.9% Internet saver......", but, instead, "Good news, Santander Instant Platinum e-Saver reduces savings-charge from 1% to ½%.....

    And what would the savers spend the money on to get the economy moving, apart from imported Chinese and German goods?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ILW wrote: »
    And what would the savers spend the money on to get the economy moving, apart from imported Chinese and German goods?

    Taking holidays in the UK. Even if just short breaks.
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