Carney guarantees low rates on breakfast tele

ruggedtoast

Did anyone else see this? Its was on breakfast tele this morning. I think the channel that has Lorraine whatsername on it.

Apparently Carney wants to put stability back into the economy and give hard pressed borrowers the peace of mind of not worrying about rate rises for the 'long term, which is describes as until employment rises and the economy grows significantly (whatever that means).

I guess thats it from the horses mouth. Oh well, I suppose he can go on holiday for a couple of years now.

I should state that he didnt actually say this on camera, or with a quote or anything. But they did use lots of pictures of him, and several outside shots of the BOE, so it must be true.

It then moved into an interesting piece as to whether you can really forgive your man for cheating.

chucknorris

ruggedtoast wrote: »

Did anyone else see this? Its was on breakfast tele this morning. I think the channel that has Lorraine whatsername on it.

Apparently Carney wants to put stability back into the economy and give hard pressed borrowers the peace of mind of not worrying about rate rises for the 'long term, which is describes as until employment rises and the economy grows significantly (whatever that means).

I guess thats it from the horses mouth. Oh well, I suppose he can go on holiday for a couple of years now.

I should state that he didnt actually say this on camera, or with a quote or anything. But they did use lots of pictures of him, and several outside shots of the BOE, so it must be true.

It then moved into an interesting piece as to whether you can really forgive your man for cheating.

I posted this link to this story earlier on another thread:

http://uk.finance.yahoo.com/news/bank-england-unveil-monetary-policy-232933510.html

The Bank of England is set to unveil the most significant changes to the way it conducts monetary policy since it was granted independence in 1997.
Mark Carney, the bank's new governor, is expected to announce that in future it will follow a policy of "forward guidance" - pre-committing to keeping interest rates low long into the future.
The precise details of the new policy will be laid out at the bank's Inflation Report press conference at 10:30am, but economists say the bank may pledge to leave rates unchanged until the unemployment rate drops beneath a certain threshold.

JonnyBravo

ruggedtoast wrote: »

It then moved into an interesting piece as to whether you can really forgive your man for cheating.

And can you?

Radiantsoul

ruggedtoast wrote: »

It then moved into an interesting piece as to whether you can really forgive your man for cheating.

What did Carney say about this?

ILW

Would forward guidance apply to keeping rates high in the future as well?
Possibly tied into keeping inflation within target.

ruggedtoast

Radiantsoul wrote: »

What did Carney say about this?

I think like most of us he can eventually get to a place where he could forgive, but that fragile and precious little bird of trust would be forever wounded.

Edit: Anyway, this looks like another clanging wrecking ball through the middle of HPC high command.

Ronaldo_Mconaldo

He has said that unemployment needs to fall below 7% before he even considers putting up interest rates and is expecting rates to stay this way for the next few years. Come on!!

IronWolf

I think the guy will say interest rates will remain low long term until the day before he puts interest rates up.

He's figured out that the only way to keep them low is to keep the market believing they're going to stay low so I fully expect him to be lying at some point.

Loughton_Monkey

What we have here, is a little man brought over from one of our colonies. Having been here 5 minutes, he has the gall to stand up and threaten a vulnerable old early retiree (i.e. my good self) that I am now set to achieve a miserable 1.5% rate on my hard-earned lifetime savings - for the rest of my life.

Looks like I might have to sell my house, but luckily the BBC News seem to be recommending "Quick House Sale" firms that are obviously OK because they are going to be monitored by the OFT.

I know what will happen. I'll get poorer and poorer. When all my money is gone, I'll be forced to get a job. That job will tip unemployment under 7%. Now I have no money, Carney will put interest rates up to something I could have lived on.....

I'm seriously going to have to think about emigrating somewhere. Bongo Bongo land might be good.....

wotsthat

ruggedtoast wrote: »

Carney guarantees low rates on breakfast tele

If that's the takeaway message that Daybreak viewers gleaned from this then Mr. Carney will be delighted.

Come on folks. What's the point of keeping a trillion quid on deposit when when you're not getting a return and now never will?

Pobby

Nice one Monkey. Same as you in fact. Did put a pile of dosh on the market just before the major crash. Oh dear, bit stupid but hung in there and came out a couple of months ago. So no damage done. So where to go now?

The powers that be dare not put up IRs. Government borrowing his massive. How will it be paid back?

So what is the answer?