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Bank of England MPC leave interest rates at 0.5% with no futher QE

worldtraveller
worldtraveller Posts: 14,013 Forumite
Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
in Debate House Prices & the Economy
The Bank of England MPC, as expected, voted today to maintain interest rates at 0.5%.

No further QE at this time.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    QE wasn't expected.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Forgot it was even happening.

    It may aswell not have!
  • B_Blank
    B_Blank Posts: 1,105 Forumite
    Phew. Good news for bears with no more QE
    I am not a financial expert, and the post above is merely my opinion.:j
  • Heyman_2
    Heyman_2 Posts: 1,819 Forumite
    Doubt we'll see QE2 for a while yet, still only 1 MPC member voting for it as of last month - we'll see for this month but don't expect to see any change.
  • worldtraveller
    worldtraveller Posts: 14,013 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Heyman wrote: »
    Doubt we'll see QE2 for a while yet, still only 1 MPC member voting for it as of last month - we'll see for this month but don't expect to see any change.

    A certainty towards the end of this year (Nov/Dec), or early next IMHO.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Heyman wrote: »
    Doubt we'll see QE2 for a while yet, still only 1 MPC member voting for it as of last month - we'll see for this month but don't expect to see any change.

    Merv most likely wants to impose the cold turkey method to wean the UK from its obsession with easy money.
  • DervProf
    DervProf Posts: 4,035 Forumite
    Graham_Devon wrote: »
    Forgot it was even happening.

    It may aswell not have!

    Funny how there seems to be less of a "kerfuffle" about this today. Seems a bit strange that we're not hearing about how great this news is for a certain someone, and how well his "plan" is going.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • TruckerT
    TruckerT Posts: 1,714 Forumite
    I'm sorry to be a bore about 'inflation', but if the sole purpose of the MPC is to control 'inflation', and 'inflation' is defined as meaning 'rising prices', they why doesn't somebody put a cap on price rises?

    In the 1970s they controlled 'inflation' by capping wages... it was called a 'pay freeze', or a 'pay pause'

    TruckerT
    According to Clapton, I am a totally ignorant idiot.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    TruckerT wrote: »
    I'm sorry to be a bore about 'inflation', but if the sole purpose of the MPC is to control 'inflation', and 'inflation' is defined as meaning 'rising prices', they why doesn't somebody put a cap on price rises?

    The MPC does not have a sole purpose to control inflation. It is there to promote financial stability as well.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TruckerT wrote: »
    I'm sorry to be a bore about 'inflation', but if the sole purpose of the MPC is to control 'inflation',

    Its not..........

    Financial Stability as well.
This discussion has been closed.
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