BOE MINUTES - MPC considered Jan rate rise, 2 vote for hike

Thrifty_Money

ILW wrote: »

I believe that the "message" they are giving at the moment is that they do not have a clue so will do nothing. That will not inpire confidence in the markets.

As far as experts go, it does appear that the average forecasts here and "down the pub" have been as accurate as anything that Mervyn King has come up with, which makes you wonder what makes him and his cronies worth the millions we are paying them.

Extremely well put !, they are proving that they don't know what to do at present and therefore "lets keep holding, holding". Soon our money will be worthless, what a mess they are in...

The_Fox_3

You can already see the scenario in the not too distant future going on how Britain deals with financial crisis in recent years.
Just like the lead up to the Banking crisis we will ignore every potential problem and then have a last minute panic which will fail and then have to do something desperate AGAIN.

Why not a few steady interest rate rises through 2011 and then we might escape having to do anything drastic later on.

inspector_monkfish

does anyone ever stop to think that these are guys are in charge of BOE because they may just know a wee bit more than a few nice chaps on a message board?

thats why they are there, and we are here.... so there is actually a pretty damn good chance that they may well know exactly what they are doing??

NO?
oh, just me then......

The_Fox_3

inspector_monkfish wrote: »

does anyone ever stop to think that these are guys are in charge of BOE because they may just know a wee bit more than a few nice chaps on a message board?

thats why they are there, and we are here.... so there is actually a pretty damn good chance that they may well know exactly what they are doing??

NO?
oh, just me then......

"Did" anyone think that the bankers knew what they where doing prior to 2007, and even if they did'nt surely the FSA were keeping and eye open for bad lending practice, because thats why the FSA are there, and we are here... so there was actually a good chance they knew what they were doing.

And we must not forget the Labour government at the time, and of course the BOE, surely they would have known, surely!!!

Gorgeous_George

ILW wrote: »

The only ones that would see any major difference would be people sitting on .5% above base lifetime tracker mortgages.

How much difference do you think it would make to a typical borrower on a tracker at BofE +0.5%? Assume they are paying £737 for a £100K mortgage with 12 years to run at the moment.

I make it a fiver per week - hardly a major difference.

GG

inspector_monkfish

The_Fox wrote: »

"Did" anyone think that the bankers knew what they where doing prior to 2007, and even if they did'nt surely the FSA were keeping and eye open for bad lending practice, because thats why the FSA are there, and we are here... so there was actually a good chance they knew what they were doing.

And we must not forget the Labour government at the time, and of course the BOE, surely they would have known, surely!!!

the bankers and the fsa dont make monetary policy decisions for the bank of england though :cool: