MSE News: Base rate held and no further QE

Former_MSE_Darryl

"The Bank of England kept interest rates on hold at 0.5% today, despite growing pressure for more emergency support to aid the UK's faltering economy..."

Read the full story:
Base rate held and no further QE

DpchMd

Darryl,

This is already being discussed here: https://forums.moneysavingexpert.com/discussion/4102849

No need for the duplicate thread.

Thanks.

The-Joker

MSE_Darryl wrote: »

"The Bank of England kept interest rates on hold at 0.5% today, despite growing pressure for more emergency support to aid the UK's faltering economy..."

Read the full story:
Base rate held and no further QE

Whoever said no further QE, I don't belive you.

Pincher

The-Joker wrote: »

Whoever said no further QE, I don't belive you.

Well, QE isn't working any way. The money is not flowing into the general economy.

I propose that the bank of England start a program of recruitment
for hedonists, wastrels, rakes, reprobates, narcissists, gluttons and licentious womanisers. Like an intravenous drip, the money we give them will boost the economy straight away, unlike QE.

Mallotum_X

Pincher wrote: »

Well, QE isn't working any way. The money is not flowing into the general economy.

I propose that the bank of England start a program of recruitment
for hedonists, wastrels, rakes, reprobates, narcissists, gluttons and licentious womanisers. Like an intravenous drip, the money we give them will boost the economy straight away, unlike QE.

Where do i send my CV?

Pincher

Mallotum_X wrote: »

Where do i send my CV?

Mervyn King "The Gov"
Bank of England

Two references from disreputable barflies or worse.

chewmylegoff

Pincher wrote: »

Well, QE isn't working any way. The money is not flowing into the general economy.

I propose that the bank of England start a program of recruitment
for hedonists, wastrels, rakes, reprobates, narcissists, gluttons and licentious womanisers. Like an intravenous drip, the money we give them will boost the economy straight away, unlike QE.

the money is flowing into the economy.

QE works thus:

bank A holds some gilts

boe buys bank A's gilts using money it has created

govt issues new gilts, bank A buys them with the money it received for the old ones.

government uses money it has borrowed from bank A to pay for things e.g. salaries of !!!!less NHS middle managers.

RenovationMan

WOW! An MSE bod ventured into the House Price ghetto to create a discussion thread for the wider MSE population. Wonders never cease!

purch

Pincher wrote: »

Well, QE isn't working any way. The money is not flowing into the general economy.

As that is not the reason for QE, to say it isn't working is incorrect.

Treadstone2.0

purch wrote: »

As that is not the reason for QE, to say it isn't working is incorrect.

Whatever reason you think QE is for it still is not working. It never has every time through history when governments expand the currency supply exponetially it always ends badly, it will this time.

RenovationMan

Well we've not got deflation so I'd say QE was working ok.