BOE MPC raises interest rates by 0.25% to 0.50%

chucknorris

Windofchange wrote: »

Hang on, I thought you were retired as per your post a few months ago!? More money than you know what to do with or something like that?

People don't just work for the money, he might be like me, I actually prefer working part time to retirement, it is very unlikely that I'll get to spend my employment income, although I will of course give it a go.

lisyloo

chucknorris wrote: »

People don't just work for the money, he might be like me, I actually prefer working part time to retirement, it is very unlikely that I'll get to spend my employment income, although I will of course give it a go.

True chuck, but I don't think the IT industry has many part-time jobs or for people who want to do it as a sort of hobby (which is my interpretation of what might be wanted).
Most jobs are 5 days plus with extra expected when required by the business.
It's quite unusual to get 4 days a week and this is usually reserved for new mothers who are already employed.
Either way it should be on a different thread.

Thrugelmir

ilovehouses wrote: »

If you've paid 50% of your commitment then yes - no further liability

So there's is a liability for those that haven't paid 50%. Easy to gloss over figures and say it's only. There's still an impact on society in some form. Pull one lever there's an effect somewhere else, often uncorrelated.

chucknorris

lisyloo wrote: »

True chuck, but I don't think the IT industry has many part-time jobs or for people who want to do it as a sort of hobby (which is my interpretation of what might be wanted).
Most jobs are 5 days plus with extra expected when required by the business.
It's quite unusual to get 4 days a week and this is usually reserved for new mothers who are already employed.
Either way it should be on a different thread.

Yeah I can't deny what you said about the thread, I was merely joining in on the tangent.

Back on subject, 0.25 to 0.5% is a real non event, as it also was when it was reduced to 0.25% (that didn't really change anything either), although it did surprise quite a few bears who had been saying 'interest rates can only go one way' for quite a while.

Thrugelmir

chucknorris wrote: »

Back on subject, 0.25 to 0.5% is a real non event, as it also was when it was reduced to 0.25% (that didn't really change anything either), although it did surprise quite a few bears who had been saying 'interest rates can only go one way' for quite a while.

If you are dependent on interest as an income source. It's a sizable increase.

chucknorris

Thrugelmir wrote: »

If you are dependent on interest as an income source. It's a sizable increase.

Even so, if you are talking about savings accounts, they are far from currently desirable, for example can you name one savings account that pays a net amount above the rate of inflation (ignoring the tax free allowance on savings)?

EDIT: I don't deny people in transitional arrangement have to use pathetic savings accounts, right now we have over £1.3m earning less than 1.2% (although we might very soon gain from that recent 0.25% increase)

economic

lisyloo wrote: »

I don't understand what you mean.
If businesses want employees then they expect them to do what the business requires.
I've been in the industry quite a while but I don't know what "hardcore" means. Programmers are expected to do programming.
There would be jobs for intermediate (if you need neither junior nor senior) but those would expect professional experience.
Why don't you look at the job sites?
Quite often you will find that specific positions advertised have mysteriously been filled (or never existed) and are just to get you with the agency, but that's the way it works. You have to go through a process of talking to agencies who will get to know what you want and your skill set. Agents tend to be motivated as they are paid for bums on seats.
Alternatively you can find companies you want to work for and look on their websites and go direct, but that's very slow/hard work. The higher you go up the payscale the more discerning the employer is likely to be about your skillset and that's why if you lack actual experience you'll find it easier at the junior/low-paid end of the scale.

yeh i will need to take a look and do some research. i only started learning a few months ago all by myself. so i have no experience. i will need to work quite hard to break into it.

economic

Windofchange wrote: »

Hang on, I thought you were retired as per your post a few months ago!? More money than you know what to do with or something like that?

i can not remember saying i was retired. if i did what i meant to say is i am financially independent. i had been working in banking for ten years and the industry has changed unsurprisingly since the crisis. the work became dull (perhaps part of it was doing the same thing day in day out). given my financial position i decided to leave and try other things out. i feel lucky to be able to do that. this year has been quite difficult for me due to some personal problems but things are better now.

linking my personal situation to the main topic of this thread, i think low rates (the hike really doesn't mean much and whats more important is that guidance is now set for rates to rise even slower then previously expected) really are a bit of a warning for those like me who are not working and so are dependent on their savings/investments. we are in a period of low rates which equates to low growth which means expected returns will be lower. the common "4% rule" i think many people are using, in my view is being quite aggressive.

Windofchange

economic wrote: »

i can not remember saying i was retired. if i did what i meant to say is i am financially independent.

Our survey says...

economic wrote: »

ive averaged 80% saving on net pay. i was earning 100k or so last ten years and i spend very little. now i am retired and i am 34.

Your parents are also multi-millionaires and you are set to inherit most of the free world. You managed to land a job in your early 20's paying £100k per annum. Serious question, do you suffer from either bipolar or dissociative disorder? You're not quite all you make out to be I feel. Anyway, carry on with the discussion on interest rates - I'll bow out here as this will just get derailed.

economic

Windofchange wrote: »

Our survey says...



Your parents are also multi-millionaires and you are set to inherit most of the free world. You managed to land a job in your early 20's paying £100k per annum. Serious question, do you suffer from either bipolar or dissociative disorder? You're not quite all you make out to be I feel. Anyway, carry on with the discussion on interest rates - I'll bow out here as this will just get derailed.

i hint a bit of anger in your reply (as you seem to show in most of your other posts).

not sure why you think i may be bipolar. bipolar can reduce quality of life significantly and seeing as you are in a medical profession i find it surprising you use conditions like this as a way of insulting people (and no i dont think it was a serious question from you). not very nice at all.

all what i said was true. i really dont care if you dont believe me. parents being multimillionaires? i wouldnt go that far as they have a VERY low 7 figure net worth - and i cant recall every saying they were multimillionaires.

yes i made a mistake of saying retired when i should have said financially independent. so sue me.

i really do think you have anger issues (at least thats how you come across in your replies). anger is not good for you. i suggest getting help for that. i have a feeling that causes you to over exaggerate a lot in your replies about what others have said (e.g. "multi millionaires").