FPC & Carney - Do....well, nothing

Blacklight

BBC were all over this at 5am today:

"Will there be another housing crash based on the outcome of today?"

You wish BBCommies... I actually laughed out loud in my car at 5pm when R4 said it was 3%. They tried their best, even saying it was a 3% rise.

Pitiful really.

Thrugelmir

Blacklight wrote: »

You wish BBCommies... I actually laughed out loud in my car at 5pm when R4 said it was 3%. They tried their best, even saying it was a 3% rise.

Pitiful really.

Stress testing will be at a rate 3 % above that the borrower applies for. So those unfortunates with 95% mortgages at 5.5% will be stress tested for affordability at 8.5%. Which you could say is a more realistic commercial rate.

Certainly a view that the thumb screws are on. Very slow tightening. That will over time alter peoples perceptions. There's no immediate policy that can produce all the required outcomes.

wymondham

Todays update is rates will go to 2.5% and then stay there....


I now await tomorrows new direction...


Good to see 'no hesitation whatsoever' still.....

Generali

purch wrote: »

A 5 bed, 3 bath with triple garage and 1/2 acre for about £73,500 I imagine :eek:

Probably best to chat to the very nice chaps at Foxtons in Tikrit about that. There'll be plenty of probate sales about to go through.

CLAPTON

Generali wrote: »

Probably best to chat to the very nice chaps at Foxtons in Tikrit about that. There'll be plenty of probate sales about to go through.

and you won't be charged any interest there

purch

Generali wrote: »

it's not the job of the BoE

I'm sorry but after reading some of the stuff posted on here I was starting to think that it was the job of the BOE to know everything and to micro-manage every single aspect of the economy, including ensuring that everyone wins the Lottery at least once in their lives.

wymondham

purch wrote: »

I'm sorry but after reading some of the stuff posted on here I was starting to think that it was the job of the BOE to know everything and to micro-manage every single aspect of the economy, including ensuring that everyone wins the Lottery at least once in their lives.

It is the job of the BofE to give clear guidance though ... something that is lacking at present with their daily conflicting briefings...

CLAPTON

wymondham wrote: »

It is the job of the BofE to give clear guidance though ... something that is lacking at present with their daily conflicting briefings...

no, the job of the BoE isn't to give clear guidance but stop financial meltdowns

Generali

purch wrote: »

I'm sorry but after reading some of the stuff posted on here I was starting to think that it was the job of the BOE to know everything and to micro-manage every single aspect of the economy, including ensuring that everyone wins the Lottery at least once in their lives.

AIUI, the BoE's remit is still:

1. Prop up house prices
2. Maintain inflation rates at a level that will annoy spouters of forumnomics
3. Ensure the Banksters keep getting their bonuses
4. Allow banks to print money in such a way as to suppress the silver price due to the Rothschilds and JP Morgan and the Jews and some Lizards and we never landed on the moon and......BUY GOLD!

Generali

wymondham wrote: »

It is the job of the BofE to give clear guidance though ... something that is lacking at present with their daily conflicting briefings...

Actually it's not part of the BoE's remit to give clear guidance. This is something that became fashionable for Central banks to do in about 2005.

Traditionally, Central Banks have been highly secretive.

Admittedly, the current muddle seems a little embarrassing. I wonder sometimes if it's deliberate though.