Forum Home» Debate House Prices & the Economy

MSE News: Base rate held and no further QE

New Post Advanced Search

Debate House Prices


We’re struggling at the moment with the huge volumes of messages we’re getting from Forumites about coronavirus and the impact it’s having on their finances. We’re a small team and we’re doing our best to manage this spike in demand. As a result, we’ve reluctantly decided to temporarily close the Debate House Prices & the Economy Board so that we can redirect our limited resources to those who need us most at this time.

Please do not post content intended for this board elsewhere in the forum – we appreciate your help and understanding during this exceptionally difficult time. It goes without saying, we hope to get back to full business as soon as possible!

MSE News: Base rate held and no further QE

edited 30 November -1 at 1:00AM in Debate House Prices & the Economy
22 replies 388 views
"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


OfficialStamp.gif
«13

Replies

  • DpchMdDpchMd Forumite
    540 posts
    Darryl,

    This is already being discussed here: http://forums.moneysavingexpert.com/showthread.php?t=4102849

    No need for the duplicate thread.

    Thanks.
    "Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin
  • The-JokerThe-Joker Forumite
    718 posts
    ✭✭
    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

    OfficialStamp.gif

    Whoever said no further QE, I don't belive you.
    The thing about chaos is, it's fair.
  • PincherPincher
    6.6K posts
    ✭✭✭✭
    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_XMallotum_X Forumite
    2.6K posts
    ✭✭✭✭
    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?
  • PincherPincher
    6.6K posts
    ✭✭✭✭
    Mallotum_X wrote: »
    Where do i send my CV?

    Mervyn King "The Gov"
    Bank of England

    Two references from disreputable barflies or worse.
  • chewmylegoffchewmylegoff Forumite
    11.5K posts
    Part of the Furniture 10,000 Posts Combo Breaker
    ✭✭✭✭✭
    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.
  • WOW! An MSE bod ventured into the House Price ghetto to create a discussion thread for the wider MSE population. Wonders never cease!
  • purchpurch Forumite
    9.9K posts
    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.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • 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.
    House Prices 2007/08 £200K, Silver £5oz
    Ratio 40,000 oz to 1 house.
    2012 Fallen to £160K, Silver risen to £20 per ounce. So house/silver ratio fallen to 8000.
    Prediction for the end of the decade, will keep falling at current rate until 1000 oz or less valued same as average house.
  • Well we've not got deflation so I'd say QE was working ok.
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support