3 more years of 0.5% interest rates

CLAPTON

Carney doesn't expect unemployment to fall to 7% for 3 years

michaels

Lets hope he is proved to be a pessimist - presumably this is a central projection nd we know how accurate the BoE central projections are when it comes to inflation....

chucky

CLAPTON wrote: »

3 more years of 0.5% interest rates

That means approximately 3,867 new threads scaremongering interest rates are about to rise that will be created in that time.

Thrugelmir

CLAPTON wrote: »

Carney doesn't except unemployment to fall to 7% for 3 years

More public sector jobs are on the line. Rebalancing the economy towards the private sector is taking a lot longer than envisaged.

Loughton_Monkey

chucky wrote: »

That means approximately 3,867 new threads scaremongering interest rates are about to rise that will be created in that time.

... 3,750 of which will emanate from the Devon University of Economics and Sophistry.

ILW

So all those indebted mortgage holders are now wishing for unemployment to stay high.

What strange times we live in.

lisyloo

So all those indebted mortgage holders are now wishing for unemployment to stay high.

No we aren't all like that.

chucky

Loughton_Monkey wrote: »

... 3,750 of which will emanate from the Devon University of Economics and Sophistry.

He doesn't seem able to grasp the most simple of logic or basic economic concepts :wall:

michaels

CLAPTON wrote: »

Carney doesn't expect unemployment to fall to 7% for 3 years

Apologies for being vaguely on topic, he also mentioned that there was a 1 in 3 chance that 7% will be hit by the middle of 2015.

This forward guiidance malarky seems to be harder than expected, BoE governor says 'I won't raise rates'; market responds 'We don't beleive you'; Governor says 'No, I really, really, REALLY won't raise rates'....

wotsthat

ILW wrote: »

So all those indebted mortgage holders are now wishing for unemployment to stay high.

What strange times we live in.

I'd prefer unemployment to fall - I think we'd all be better off. I've got two mortgages.

Anyone that's used the last few years wisely will probably welcome higher rates when they arrive anyway.

I think Carney's got this wrong. He chose too high a rate of unemployment to target and that's why his commitment to low rates is being questioned and he's having to promise low rates without making promises.

lisyloo

So all those indebted mortgage holders are now wishing for unemployment to stay high.

I have a mortgage and a 0.99% mortgage rate.
However I have seen the devastation that joblessness can cause.
My boss lost his job 2 years ago, never found one and is now dead.

The effects of joblessness is devastating for some people, even leading to death in some cases.
I do feel for you ILW if you are surrounded by people who can only think of themselves.

I hope for a recovery and that people will find meaningful work and I also hope that disabled people and those who cannot work get treated with respect.
If that means a higher tax bill and higher mortgage payments then I'll count myself very lucky to be in that position.