0.25% cut in BoE base rate

JonnyBravo

Another £20/month towards the overpayment for me..... thanks Merv....


Can't see it making a jot of difference to the crunch etc!

Stevie1

Why should they have put it up?

Cutting IR by 0.25% - 0.50% is the right decision at the moment, economically

Toto

Stevie1 wrote: »

Why should they have put it up?

Cutting IR by 0.25% - 0.50% is the right decision at the moment, economically

not for my savings it isn't :mad:

Markyt

Stevie1 wrote: »

Why should they have put it up?

Because it has the possibility of allowing inflation to increase, and the provision of more cheap debt for the masses. An economy in which inflation is high while at the same time people are being encouraged to spend rather than save is not good.

bs0u0128

they dont like savers

luvpump

This will make little or morelike no differance !!! .. almost a symbolic gesture..

Markyt

luvpump wrote: »

This will make little or morelike no differance !!! .. almost a symbolic gesture..

It may make it worse. Lenders are raising rates even today, knowing of the cut. This means it is at best a waste of time if the intention is to support the mortgage market, and possibly hurtful as it isn't even offset by limiting inflation.

King_Of_Fools

Great! Now all our bills are going to get even more expensive!

Commonsensesearcher

Stevie1 wrote: »

Why should they have put it up?

Cutting IR by 0.25% - 0.50% is the right decision at the moment, economically

How d'you work that out?

You like inflation? Weak Sterling? Which leads to dearer imports feeding the inflation loop - economy has been wrecked by Gordon 'Stalin' Brown. Total moron.

chinatown_2

Al_Mac wrote: »

It'll not do any good for anyone. They should have put it up.

The ecconomy is shafted. Just a case of how long, 1 year, 5 years, 10 years or longer.

It will for us. Our mortage payment should go down by around £30. Even if its just short term it'll help us out a great deal.

oneandonlyboy

Most lenders wont pass on the cut, they will use it to increase their profile and to try and recoup money they have lost.

Its a panic cut to try and please the masses who believe that it will save them money when infact it could lead to higher prices all round via inflation.