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July 2013 - BoE rates left on hold
wotsthat
Posts: 11,325 Forumite
Not much of a surprise there.
However Mark Carney has made his presence felt already...
http://news.sky.com/story/1111397/economy-bank-issues-rate-warning-to-markets
However Mark Carney has made his presence felt already...
After confirming there would be no change to its monetary policy stance, the committee indicated that current City forecasts for a rise in the base rate of interest next year looked premature.
It said: "In the committee's view, the implied rise in the expected future path of Bank Rate was not warranted by the recent developments in the domestic economy."
The statement prompted a sharp fall in the pound against the US dollar and euro and a big rise in the FTSE 100 Index amid increased hopes that monetary policy will remain loose, with rates remaining at their record low of 0.5% for longer than expected.
However, evidence that the UK's economic recovery is gathering pace is expected to have been the driving force behind the Bank of England maintaining QE at £375bn for now.
http://news.sky.com/story/1111397/economy-bank-issues-rate-warning-to-markets
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Comments
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Sharp fall in the pound? Just what we need.
Pay more, get less. Yay!0 -
Graham_Devon wrote: »Sharp fall in the pound? Just what we need.
Pay more, get less. Yay!
And if the pound was rising sharply you'd be claiming exports would soon be hit.If I don't reply to your post,
you're probably on my ignore list.0 -
And if the pound was rising sharply you'd be claiming exports would soon be hit.
Would I? You been stroking your crystal ball? I've never stated anything like this and have always been pro a higher pound.
Heres a tip....for once, stick to the topic instead of barking at me all the time. It's one thing to bark at me when I have said something, but inventing your own scenario and laying it at my feet so you can bark at me again is just poor form.0 -
And if the pound was rising sharply you'd be claiming exports would soon be hit.
To be fair the cost of exports isn't directly felt in the pocket whereas fuel,and food inflation will be seen and felt sooner at an individual level."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Sharp fall in the pound? Just what we need.
Pay more, get less. Yay!
Look on the bright side. At least Carney got the memo from Merv about the millions of households that would be struggling if rates went up:)
£/$ is currently down 1.9 cents today but only 0.5 cents on this time yesterday. Doesn't mean anything other than the markets can sometimes be surprised by the obvious.0 -
Not much of a surprise there.
However Mark Carney has made his presence felt already...
http://news.sky.com/story/1111397/economy-bank-issues-rate-warning-to-markets
+2 - 3% on the tickers:beer:"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Sharp fall in the pound? Just what we need.
It is what we need; take some of your own advice and think longer term. A highly valued pound is great for those with a good income and/or good savings; it sucks for those struggling to find work and for the wider economy.
A lower value £ means buying UK goods and services just became more attractive both domestically and internationally.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
I
A lower value £ means buying UK goods and services just became more attractive both domestically and internationally.
UK goods and services may not become more attractive if they [STRIKE]are[/STRIKE] use imported commodities or products. If they become relatively more attractive it doesn't mean that they will be any cheaper so the impact on the individual will still be felt.."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Would I? You been stroking your crystal ball? I've never stated anything like this and have always been pro a higher pound.
Heres a tip....for once, stick to the topic instead of barking at me all the time. It's one thing to bark at me when I have said something, but inventing your own scenario and laying it at my feet so you can bark at me again is just poor form.
Well, you could have celebrated the fact that interest rates won't be rising anytime soon, to the benefit of households who will enjoy cheaper mortgages. But, as per usual, you chose to find the negative.If I don't reply to your post,
you're probably on my ignore list.0 -
to the benefit of households who will enjoy cheaper mortgages. But, as per usual, you chose to find the negative.
Or the detriment of millions who continue to suffer poor returns on their savings and woeful annuity rates that will have to live with for the rest of their natural.
There are always two sides to the coin. Depends which way you want it to fall. Doesn't help when it is a weighted coin."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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