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Bank of England - Low interest rates are 'new normal'

Turnbull2000
Turnbull2000 Posts: 1,810 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
in Debate House Prices & the Economy
http://www.telegraph.co.uk/finance/business-news-markets-live/10632550/Bank-of-England-Inflation-Report-live.html

I pointed this out a long time ago. Also good to see as was right on Forward Guidance being dropped. :beer:
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Comments

  • MFW_ASAP
    MFW_ASAP Posts: 1,458 Forumite
    edited 12 February 2014 at 3:15PM
    Good for those people who had the foresight to max out their mortgages and buy their dream homes at the bottom of the market.

    Looks like the naysayers and doomsters, who are afraid of their own shadows, were wrong yet again and have missed the boat yet again.
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    Good news for hardworking families all over the UK. :beer:
    Don't blame me, I voted Remain.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    It is not good news for pensioners.
  • dryhat
    dryhat Posts: 1,305 Forumite
    ruggedtoast wrote: »
    It is not good news for pensioners.


    I don't think you were meant to join in on this circle jerk.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    MFW_ASAP wrote: »
    Good for those people who had the foresight to max out their mortgages and buy their dream homes at the bottom of the market.

    Looks like the naysayers and doomsters, who are afraid of their won shadows, were wrong yet again and have missed the boat yet again.
    You just wait till interest rates start soaring Bla Bla Bla Bla.....
  • movilogo
    movilogo Posts: 3,239 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    BoE is not allowed to raise IR before election. That's perfectly normal.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    A BoE and a chancellor acting in the best interest of the country's population. Boo!
    Don't blame me, I voted Remain.
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    movilogo wrote: »
    BoE is not allowed to raise IR before election. That's perfectly normal.

    Which election? The next one or the last one?
  • troubleonline
    troubleonline Posts: 65 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Surely they have to be the new normal for quite a long time to come. If they went back up to the 6 or 7% they were about 14 years ago when I bought my first flat there would be a crisis and mass defaulting on mortgage payments.

    I know it is bad news for savers but surely it's better to get people out of debt first...

    We have modest savings and a mortgage and I would take lower interest rates any day............mainly because we have been saving the money we have 'saved' as a result of reduced mortgage payments :-)
  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    troubleonline wrote: »
    Surely they have to be the new normal for quite a long time to come. If they went back up to the 6 or 7% they were about 14 years ago when I bought my first flat there would be a crisis and mass defaulting on mortgage payments.

    I know it is bad news for savers but surely it's better to get people out of debt first...

    We have modest savings and a mortgage and I would take lower interest rates any day............mainly because we have been saving the money we have 'saved' as a result of reduced mortgage payments :-)
    Problem is that many are now taking on larger debts BECAUSE of low rates. Look at house prices.
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