Rates.... wil they wont they?

lisyloo

The BoE's remit is inflation.

No it isn't.

Have you read it recently?

If you would like me to post it then let me know but you should be able to find it for yourself but I definitely remeber there being something about "economic stability" in there.

dannyboycey

MidTwentySomthing wrote: »

Depends if the banks pass on the cuts.

Lloyds and HSBC appear to have chopped .25% of their savings accounts already!! I doubt they'll be so quick to do the same for borrowers.

wolvoman

lisyloo wrote: »

No it isn't.

Have you read it recently?

If you would like me to post it then let me know but you should be able to find it for yourself but I definitely remeber there being something about "economic stability" in there.

I think you've read my post out of context. I'm responding to all those suggesting the BoE should be ignoring the housing market and focussing solely on inflation.

The BoE thinks it can maintain economic stability whilst at the same time ensuring inflation stays within target (the report I was referring to).


There are currently as many deflationary pressures as there are inflationary pressures.

JonnyBravo

lisyloo wrote: »

No it isn't.

Have you read it recently?

If you would like me to post it then let me know but you should be able to find it for yourself but I definitely remeber there being something about "economic stability" in there.

Spot on!




And seeing as I'm a net borrower it's good news for me.
Whatever all these doomsayers rabbit on about I'm happy for a modest .25% cut.
And yes it will be passed to all those on "trackers" as most track the base rate not the LIBOR rate.


Oh and it was as plain as the nose on your face it would happen..... as predicted by me way back on 30th October!!:rotfl:

merlinthehappypig

free4440273 wrote: »

Inflation figures out next week: let me be the first to congratulate the BofE for taking steps to combat inflation. Three cheers...:rolleyes:

It will still be 2% - they will simply adjust the way it is measured;) It's going to worked out using the price of bulls**t in future.

kennyboy66_2

lisyloo wrote: »

No it isn't.

Have you read it recently?

If you would like me to post it then let me know but you should be able to find it for yourself but I definitely remeber there being something about "economic stability" in there.

OH YES IT IS (broadly)

here's a link thingy http://64.233.169.104/search?q=cache:4sTIygZXzwsJ:www.bankofengland.co.uk/monetarypolicy/framework.htm+monetary+policy+committee+remit&hl=en&ct=clnk&cd=1&gl=uk

It's main objective is to deliver price stability (aka inflation target of 2%) AND SUBJECT TO THAT support the Governments objectives.

WTF?_2

PJD wrote: »

That's what I was thinking?

I don't understand why the hell they've done this?

One reason I heard was to stop the 'credit crunch' - surely this will encourage people to spend more and get further into debt?

The tactic here is to put off the crash as long as possible. They've been doing that every time a recession has beckoned since 2001. Who knows, maybe something else will come along that gets them off the hook before the economy goes through the floor.....

free4440273

Originally Posted by free4440273
Inflation figures out next week: let me be the first to congratulate the BofE for taking steps to combat inflation. Three cheers...:rolleyes:

chriseast wrote: »

It will still be 2% - they will simply adjust the way it is measured;) It's going to worked out using the price of bulls**t in future.

...UK population soon to be eating Plasma TVs; wheat, sugar, cocoa all removed from the inflation basket index in one fell swoop.

MidTwentySomthing

Out of intrest is there anywhere where I can go look up what exactly is in the CPI and RPI basket at the moment?

poppy10_2

MidTwentySomthing wrote: »

Out of intrest is there anywhere where I can go look up what exactly is in the CPI and RPI basket at the moment?

http://www.statistics.gov.uk/CCI/article.asp?ID=1746