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Debate House Prices


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What's Dave trying to tell Merve?

Lance
Lance Posts: 559 Forumite
in Debate House Prices & the Economy
http://www.bloomberg.com/news/2011-01-09/cameron-backs-king-in-extremely-difficult-u-k-rate-policy.html

U.K. Prime Minister David Cameron said recent levels of inflation have been “concerning” as he offered Bank of England Governor Mervyn King his support in the “extremely difficult task” of setting interest rates.
“That is what the Bank of England have to get right,” Cameron told the BBC’s “Andrew Marr Show” yesterday. “I’m in no doubt the inflation is extremely harmful, it destroys people’s savings. We don’t want to go back to having an inflation problem as we had in the past.”
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Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    The Andrew Marr show is a chance to nod towards the public.

    He'll talk to Merv in private.
  • purch
    purch Posts: 9,865 Forumite
    We don’t want to go back to having an inflation problem as we had in the past

    The problems of the past were caused in a large part by political interference in the setting of policy, so maybe the best idea would be to "butt out" Davie
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Yeah, Dave, butt out you interfering £&*%£&%£!!!

    Interest rates need to stay low for 3 years!!! :angry:
  • ILW
    ILW Posts: 18,333 Forumite
    I reckon a short sharp shock of 10% for a year would sort things out.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    RenovationMan wrote: »
    Yeah, Dave, butt out you interfering £&*%£&%£!!!

    Interest rates need to stay low for 3 years!!! :angry:

    Surely you only need another 2 years and 4 months ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    IveSeenTheLight wrote: »
    Surely you only need another 2 years and 4 months ;)

    I was about to put that, and then thought I'd add in a bit of extra time for me to sort out my fixed rate. :)
  • myhouse_2
    myhouse_2 Posts: 553 Forumite
    500 Posts
    RenovationMan wrote: »
    Yeah, Dave, butt out you interfering £&*%£&%£!!!

    Interest rates need to stay low for 3 years!!! :angry:

    The problem is..inflation needs to stay low.

    Cameron is just giving a shot across the bows - a little wake up call to Merv who has been asleep on the job.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    myhouse wrote: »
    The problem is..inflation needs to stay low.

    Cameron is just giving a shot across the bows - a little wake up call to Merv who has been asleep on the job.

    Not for me it doesn't. My large debt and low consumerism makes inflation work more for me, rather than against me. Well, upto a point.
  • Kohoutek
    Kohoutek Posts: 2,861 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    myhouse wrote: »
    The problem is..inflation needs to stay low.

    Cameron is just giving a shot across the bows - a little wake up call to Merv who has been asleep on the job.

    What makes you think that adjusting our monetary policy will have an appreciable effect on rising commodity prices (which are mainly the cause of the inflation)?

    We're hardly experiencing a credit boom in this country, which might be responsible for driving up prices, in fact money supply is barely growing at all. In any case, it isn't the UK that's driving demand and much higher prices of oil, food, cotton. You should be complaining to the respective central bankers of India, China, Brazil etc, not to "Merv"!
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    RenovationMan wrote: »
    I was about to put that, and then thought I'd add in a bit of extra time for me to sort out my fixed rate. :)

    You can sort that out in advance.
    More likely you may be joining us enjoying the SVR's while the rates are low ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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