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Austerity has delivered low rates.
StevieJ
Posts: 20,174 Forumite
Not sure what to make of Georgie Boy's comment? I guess that he is not on the side of the savers, strange comment though, didn't we have low rates before his so called austerity?
http://uk.finance.yahoo.com/news/Osborne-Low-Interest-Rate-Is-skynews-3775358984.html?x=0
"Britain will stick to the deficit plan it's set out," he said.
"It's the rock of stability on which our recovery is built. It's delivered record low interest rates.
"Abandoning that plan would put those interest rates at risk.
http://uk.finance.yahoo.com/news/Osborne-Low-Interest-Rate-Is-skynews-3775358984.html?x=0
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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Sub 3% rates will probably become the new 'norm'. Can't see them breaching even 1% for a few years yet. What a boon for existing borrowers! Those that bought prior to 2003 have not only seen their property double or treble in value, but the borrowing cost has plummeted to a fraction of what they originally envisaged.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
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I think he's referring to low interest rates on government bonds.Faith, hope, charity, these three; but the greatest of these is charity.0
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I think he's referring to low interest rates on government bonds.
Ah yes, think you are correct, makes sense.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I would agree with that, so had they not gone ahead and cut and just spent we would be looking at higher rates. AKA Greece, Spain, Italy etc.
Not so clear cut
as Mr Bill Gross this week pointed out, no point having austerity if it counter produces by destroying GDP, Softly Softly catchee monkey 
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Not so clear cut as Mr Bill Gross this week pointed out, no point having austerity if it counter produces by destroying GDP, Softly Softly catchee monkey
Listen to the Obama speech from last night. Very interesting and refreshing. When compared to listening to UK politicians. As Obama accepts that a sea change in policy and attitude is required. More budget cuts on the way. All spend on new projects to kickstart the economy has to be financed by increased taxation and closure of tax exemptions for wealthy individuals and Corporations.0 -
Not so clear cut as Mr Bill Gross this week pointed out, no point having austerity if it counter produces by destroying GDP, Softly Softly catchee monkey
GDP is falling worldwide in a lot of countries that have not really started austerity.
we may need to stimulate things, but better to do that now we are paying less out.0 -
what needs to happen is banks to start loaning some of the money they have on deposit with the Boe--that might kick start the economy.
At the moment the only people who are suffering for the crisis caused by lending tactics of the banking system are the less well off.--wages and bonuses in the city have never been better.mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0 -
what needs to happen is banks to start loaning some of the money they have on deposit with the Boe--that might kick start the economy.
Out dated view. Banks are contracting lending not expanding. A process which will go on for some years.
Debt is what has created the current problems.0 -
i do love the uk citizens--love austerity and see jobs going abroad and somehow feel it has to be paid for by 'them'- the city of london has plundered the nation and now it is time to go to pastures new where pickings are 'ripe'mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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