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Carney indicates BOE likely to cut interest rates + possible Quantitative Easing
Comments
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Graham_Devon wrote: »We could see a rather big change in Carney now that the man who hired him has gone.
I think we may not see him at all for much longer.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
The prospect of a UK interest rate cut next week was virtually confirmed on Tuesday after a key member of the Bank of England’s policymaking committee warned the economy was in a worse state than he expected just a week ago.
In a sudden U-turn from his previous stance, Dr Martin Weale, one of the more hawkish members of the Bank’s monetary policy committee, suggested in an interview with the Financial Times that he was likely to vote for further stimulus measures. On 18 July, Weale said in a speech there was not enough evidence that the economy was suffering from the UK’s vote to leave the European Union.
The GuardianThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
I know the central bank will use negative interest rates. But I'm wondering how they will spin it as a good thing. QE has been spun to make it look good, even though it's anything but.
I wonder what crazy rationalisation they'll use for it costing people to deposit their money in a bank.0 -
chucknorris wrote: »But Crashy predicted they would be going up :rotfl:
Presumably you predicted they would be going down then?0 -
Graham_Devon wrote: »Presumably you predicted they would be going down then?
No, I predicted that they would stay the same (but following Bexit, I predicted that there was a good chance of a rate cut), I certainly don't see any rate rises for quite some time yet, whereas (more to the point) he predicted that they would rise and there would be a property price crash (again) :rotfl: I don't see a property crash until at least the early/mid 20's, but even so they are unlikely to fall below current values. That is nominally of course, personally I think London prices might have reached an all time 'real term' peak.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Graham_Devon wrote: »Presumably you predicted they would be going down then?
Presumably having been vehemently against QE and other BOE liquidity interventions for the last 7 years you'll now view it as a price worth paying for Brexit?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
One of the arguments against owning gold was it didn't produce a yield. But now government bonds don't either. The best saving accounts barely return 2% and most lose their money in the stock market. Chasing ever diminishing returns.
Is there still a case against gold now that negative interest rates are around the corner?0 -
and most lose their money in the stock market.
Do they, how come? Not my experience at all, equities also have a lot of significant advantages:
- Dividend income is currently comparatively much higher than bond/savings rates.
- £5k tax free dividend income.
- Subsequent dividends are taxed at only 7.5% in the 20% band, and also less in the two higher tax bands (32.5% and 37.5%).
- Easy to avoid CGT.
-ISA and SIPP compatible.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
One of the arguments against owning gold was it didn't produce a yield.
That and the fact people who bought last time you lot were ramping it have now lost around a third of their money in nominal terms and more like 40% when adjusted for inflation.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
If you had averaged in each month with gold, from when it reached £1200, in September 2011, you would have paid £890 per ounce.HAMISH_MCTAVISH wrote: »That and the fact people who bought last time you lot were ramping it have now lost around a third of their money in nominal terms and more like 40% when adjusted for inflation.
Three years ago it was £870, two years ago it was £765, and one year ago it was down to £700. Today it is £1020..._
http://goldprice.org (all figures rounded off)0
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