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Looks like Interest rates could go up again this week
mystic_trev
Posts: 5,434 Forumite
http://business.timesonline.co.uk/tol/business/economics/article1595801.ece
"The significance of the shadow MPC’s 8-1 vote is that it has accurately anticipated all three interest-rate rises since last summer"
"The significance of the shadow MPC’s 8-1 vote is that it has accurately anticipated all three interest-rate rises since last summer"
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If I'd predicted interest rate rises every week for the past year, I would have accurately anticipated the last three rises too.
This doesn't say anything for my (or their) predictive abilities at all. Without comprehensive figures for all predictions this is meaningless.
I suspect their predictive powers will look considerably less trustworthy if every one of their votes is examined for accuracy.0 -
If they go up again then we are getting nearer to the long awaited propert crash!0
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I hope they go up to 10% personally...0
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If I'd predicted interest rate rises every week for the past year, I would have accurately anticipated the last three rises too.
This doesn't say anything for my (or their) predictive abilities at all. Without comprehensive figures for all predictions this is meaningless.
I suspect their predictive powers will look considerably less trustworthy if every one of their votes is examined for accuracy.
The future is notoriously hard to predict. FWIW, I think that interest rates have a long way upwards to go over the next few years. The pound is overvalued in my opinion. If I'm right and it starts to drop then interest rates will have to rise to support it to prevent inflation rising.0 -
Thanks! I so look forward to having my home repossessed...0
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so do I.... !
Yep. That'd push the pound up to record exchange rates, leave exports unviable and result in mass business closures. And people who've owned their home for over 5 yrs would be fine. Their property might drop in theoretical value, but they'd probably not need to sell anyway.
People who've bought in the last 5 years might lose their home and jobs, and you'd dance around like what? a vulture at a battle scene?0 -
When buying a property I would factor in any interest rate rises. Do people not do that?All my views are just that and do not constitute legal advice in any way, shape or form.£2.00 savers club - £20.00 saved and banked (got a £2.00 pig and not counted the rest)Joined Store Cupboard Challenge]0
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swings and rounderbouts, if u want rates up now, u'll want them down when you've bought ur house0
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