state bank of india

joe134

MiserlyMartin wrote: »

So there you go. Andrew Clare and many others got their rate predictions wrong. They are well below what many expected. What makes you think any of these supposed 'experts' really knows what is going to happen now. What I am suggesting is that there is a possiblity of a global financial crisis which will make 2007 look like a little downturn. With this could be a currency crisis and high inflation as the oil price rapidly rises. Central banks will be powerless and will hike rates rapidly as they have little other choice.

On the other hand this may not happen and rates will stay low or even negative. I still think we are heading for a huge recession though. The longer before it happens the worse it will be. Plus what are they going to do, cut rates more or print more...??

I thought I was a pesimist, your moniker certainly suits:rotfl:.
I also think we are in for another crisis, not just because of China.
no two economists ever agree.
If we heeded them all, I would keep my money in a shoe box.
For one, I don't believe the inflation figures for a start, they don't correlate with my basket of living.
Bit off topic, of SBI, but given I /we are talking 5 year fix, the markets aren't exactly gung ho, over the last 5 years.
HSBC have pulled a flanker, and that's the rub, they are the power brokers, and Carney et.al are in Cahoots.(not the bank):)
More chance of a world war, than a rapid rise in bank rates, or another 1974 oil crisis, with Iran pumping now.and fracking.
Trade wars are next, and I'm no economist, just a punter with money to invest.
We ain't seen nothing yet.
You pays your money, you takes your chance.:eek:

pvt

MiserlyMartin wrote: »

Depends. If the film star Carney loses all control we may end up with base rate at 10%. Even your Halifax and Nationwide dismal payers (poor excuse for a Building Society) will have to be offering at least 8% surely? Yes I know, don't call me Shirley.

I was referring to equivalent fixed term products from those providers - their rates will not change whatever happens to the base rate, just as SBoI's won't change.