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That time of the month - Interest Rates!

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Comments

  • phlash
    phlash Posts: 883 Forumite
    500 Posts
    +0.25%
    68% of people were right. BoE just raised by 0.25% to 5.75%.
    I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
    That also means I cannot share in any profits from any decisions made!;)
  • kingkano
    kingkano Posts: 1,977 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    +0.25%
    The 0.25+ wins it ;)
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    +0.25%
    Up 25bps.

    Ooh. Looks like a few people were on the BoE website too.
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    +0.25%
    Generali wrote: »
    Up 25bps.

    Ooh. Looks like a few people were on the BoE website too.

    Hi G

    Are 'Big Bank' predicting another 0.25% ? If so - when?
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    +0.25%
    mystic_trev wrote: »
    Hi G

    Are 'Big Bank' predicting another 0.25% ? If so - when?

    Everyone else is, but we may have to wait till November / December now, so they can see the effect of previous rises.

    If they raise again in Aug/Sep, it would be a clear indication that they are trying to induce a crash.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    +0.25%
    I should see later today or tomorrow after the ECB announce (is that today?)
  • phlash
    phlash Posts: 883 Forumite
    500 Posts
    +0.25%
    ECB announce later this afternoon I believe.
    I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
    That also means I cannot share in any profits from any decisions made!;)
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    +0.25%
    BoE Press release:

    The Bank of England’s Monetary Policy Committee today voted to raise the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.75%.
    In the United Kingdom, output growth has remained firm and appears to be evolving in line with the Committee’s most recent projections. Credit and broad money continue to grow rapidly. The pace of expansion of the world economy remains robust.
    CPI inflation fell back to 2.5% in May. Lower gas and electricity prices mean that CPI inflation is likely to continue to fall back to around the 2% target in the course of this year. Although pay pressures remain muted, the margin of spare capacity in businesses appears limited and most indicators of pricing pressure remain elevated.
    The Committee judged that, relative to the 2% target, the balance of risks to the outlook for inflation in the medium term continued to lie to the upside. Against that background, it further judged that an increase in Bank Rate of 0.25 percentage points to 5.75% was necessary to meet the 2% target for CPI inflation in the medium term.

    My bold. I think this hints at possible further rises. We'll see.
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    +0.25%
    phlash wrote: »
    ECB announce later this afternoon I believe.

    ECB - UNCHANGED 4%


    http://www.bloomberg.com/apps/news?pid=20601085&sid=a2Mk6YEW51p8&refer=europe
  • cojaq
    cojaq Posts: 21 Forumite
    +0.25%
    Another increase in my morgage, I wish I could pay mine off. I might try the lottery on Saturday night. I've just moved house and I'm not used to paying the increased morgage yet let alone a BOE increase!!!:confused:
This discussion has been closed.
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