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UK Interest Rate

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  • worldtraveller
    worldtraveller Posts: 14,013 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 24 January 2020 at 1:22PM
    UK manufacturing and services saw their best month for more than a year in January, a survey has suggested.

    The UK composite purchasing managers' index (PMI), which includes the two sectors. rose to a 16-month high of 52.4, up from 49.3 in December.

    IHS Markit, which compiled the survey, said demand was growing in the wake of the general election in December.

    The figures are the last economic data to be released before Bank of England policymakers meet next week.

    Analysts said they made an interest rate cut less likely.

    BBC News
    There 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...
  • worldtraveller
    worldtraveller Posts: 14,013 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 30 January 2020 at 1:06PM
    The Bank of England has maintained the interest rate at 0.75%.

    The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 29 January 2020, the MPC voted by a majority of 7-2 to maintain Bank Rate at 0.75%.

    The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee also voted unanimously to maintain the stock of UK government bond purchases, financed by the issuance of central bank reserves, at £435 billion.

    Bank of England
    There 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...
  • Sailtheworld
    Sailtheworld Posts: 1,551 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    edited 5 February 2020 at 5:48PM
    I remember the good old days when the likes of Graham_Devon were warning people that these rates just couldn't last - just what would people do when their low fixed rate mortgages ended and their mortgage payments leaped.

    Or Thrugemir who warned, ad-infinitum, about the dangers of considering low rates the new normal.

    Luckily only a handful of people will have been exposed to their nonsense and, hopefully, not a single person will have committed what would have been an act of self harm to have acted on their imparted 'knowledge'.

    What's that now? 10 years of low rates and it's still possible to get a 10 year fix at just over 2% from anywhere on the high street.
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I took a variable rate of BOE + 0.49% in 2008 for 10 years.
    i stoozed it for most of that period at the start making £8k per annum.
    At one point I had a cash ISA and mortgage with the same bank and they were paying me.
    smug? Maybe but the point is - don’t believe all the opinions you read on here.
  • Buried in the news today was the UK's GDP growth figure of zero and the acknowledgement that frictionless trade with the EU was Brexit BS after all.
    Interest rates are going nowhere for the time being.
  • lisyloo said:
    I took a variable rate of BOE + 0.49% in 2008 for 10 years.
    i stoozed it for most of that period at the start making £8k per annum.
    At one point I had a cash ISA and mortgage with the same bank and they were paying me.
    smug? Maybe but the point is - don’t believe all the opinions you read on here.
    At one time I had a BMR mortgage with Nationwide which was fully flexible. I had almost the entire balance offset with fee free (RIP) credit cards. Effectively I had an interest mortgage for a few years and threw the interest savings into a pension getting 40% tax back. Happy days!
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