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ECB holds rates.

Graham_Devon
Graham_Devon Posts: 58,560 Forumite
Part of the Furniture 10,000 Posts Combo Breaker
in Debate House Prices & the Economy
ECB holds rates at 1.5%.

Ouch for us considering our little announcement. :o

http://www.reuters.com/article/2011/10/06/eurozone-ecb-interestrate-idUSL5E7L616W20111006

Comments

  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 6 October 2011 at 1:09PM
    Graham_Devon wrote: »
    ECB holds rates at 1.5%.

    Ouch for us considering our little announcement. :o

    http://www.reuters.com/article/2011/10/06/eurozone-ecb-interestrate-idUSL5E7L616W20111006

    I would say ouch for all the countries that are in the poop in europe. They really need a rate Cut.

    40% of our exports go to europe and we need to export.

    Currently against the euro we are still higher than just 4 days ago.

    So we are paying the same for European goods as you were 4 days ago but now have an extra £75b in our economy.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    They're obliged by the Germans to prioritise inflation above all else. Of course the Germans used to have that written into law for the Bundesbank.

    We must hope that the rumours about the printing of Deutschmarks are all true. There's hope for the euro with the Germans out.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • Mr_Mumble
    Mr_Mumble Posts: 1,758 Forumite
    ECB: 3% inflation, 1.5% interest rates, 0 QE
    BoE: 5% inflation, 0.5% interest rates, £275bn QE

    Well, at least one of them is wrong and that's the best case scenario!
    "The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Mr_Mumble wrote: »
    ECB: 3% inflation, 1.5% interest rates, 0 QE
    BoE: 5% inflation, 0.5% interest rates, £275bn QE

    Well, at least one of them is wrong and that's the best case scenario!

    What was the ECB bond buying program if not a type of QE?
  • Degenerate
    Degenerate Posts: 2,166 Forumite
    Really2 wrote: »
    What was the ECB bond buying program if not a type of QE?

    A bluff...
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    ECB holds rates at 1.5%.

    Ouch for us considering our little announcement. :o

    http://www.reuters.com/article/2011/10/06/eurozone-ecb-interestrate-idUSL5E7L616W20111006

    Or not so Ouch, considering the ECB has just had to drop rates for the second month in a row as the Eurozone goes into meltdown and we have managed to fare much better. :)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
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