TheCountOfNowhere Posted November 2, 2017 Author Share Posted November 2, 2017 2 minutes ago, BoredByTorque said: They are a very long way off being 5%. And an increase of 0.25% and a clear 'slow and steady' outlook isn't really that much to celebrate. They are literally giving themselves some wiggle room to drop again if they need to. Have you seen the panic on the TV !!! it doesnt take 5% to collapse house prices, it'll take 1%. Quote Link to comment Share on other sites More sharing options...
crouch Posted November 2, 2017 Share Posted November 2, 2017 3 minutes ago, BoredByTorque said: They are a very long way off being 5%. And an increase of 0.25% and a clear 'slow and steady' outlook isn't really that much to celebrate. They are literally giving themselves some wiggle room to drop again if they need to. Frankly I think this is little more than a reversal of the misstep they made last August when they brought rates down. I think it heralds nothing; it's a "one and done" and that the next move will in fact be down. Quote Link to comment Share on other sites More sharing options...
BoredByTorque Posted November 2, 2017 Share Posted November 2, 2017 NDN is for sale. They have had a steady amount of viewers for the last 3 weeks - I'll keep an eye out to see if the viewings keep up. We are in London and prices are down but it's still on very high and people are still coming to look... Quote Link to comment Share on other sites More sharing options...
Houdini Posted November 2, 2017 Share Posted November 2, 2017 2 minutes ago, crouch said: Frankly I think this is little more than a reversal of the misstep they made last August when they brought rates down. I think it heralds nothing; it's a "one and done" and that the next move will in fact be down. +1 - the question is really what will happen next - this just tooks us back to last year (or any time from 2009 onwards). Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 2, 2017 Share Posted November 2, 2017 3 minutes ago, TheCountOfNowhere said: Have you seen the panic on the TV !!! Quote Link to comment Share on other sites More sharing options...
AdamoMucci Posted November 2, 2017 Share Posted November 2, 2017 Sky News Website headline: UK interest rate doubled - first rise in 10 years DOUBLED I tell you!!! Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted November 2, 2017 Share Posted November 2, 2017 The MPC really need to make a statement quick to counter the rumour mill. Word on the street is that the MPC are wimps, they are bluffing, and this is a dovish not a hawkish rise. Carney and the Committee really know how to screw things up. Randgold which had tanked pre-announcement rallied massively when the wimpish release came out, the pound tanked and gilts rallied. Quote Link to comment Share on other sites More sharing options...
Cosmic Apple Posted November 2, 2017 Share Posted November 2, 2017 Well thats one off Carnages bucket list... Raised Interest Rates... no need to do it a second time. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted November 2, 2017 Share Posted November 2, 2017 Just now, Northern Welsh Midlander said: Well thats one off Carnages bucket list... Raised Interest Rates... no need to do it a second time. Exactly what the Markets are pricing in now, what the f%%k is the clown playing at. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 2, 2017 Share Posted November 2, 2017 16 minutes ago, Houdini said: +1 - the question is really what will happen next - this just tooks us back to last year (or any time from 2009 onwards). It all depends what Spreadsheet Phil has got in his bag. If he spends big (a la Corbyn) then we should see some growth next year and interest rates will rise. If he doesn't spend big then the economy fall into recession and the MPC will reverse direction again. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted November 2, 2017 Share Posted November 2, 2017 There a chunt of a MP on "The Daily Politics" saying it will make a great difference to savers, fingers on pulse, or up his, or anyone's, back pass. Quote Link to comment Share on other sites More sharing options...
PopGun Posted November 2, 2017 Share Posted November 2, 2017 37 minutes ago, BoredByTorque said: They are a very long way off being 5%. And an increase of 0.25% and a clear 'slow and steady' outlook isn't really that much to celebrate. They are literally giving themselves some wiggle room to drop again if they need to. +1 with 10 year fixes available under 2.8% I doubt very much the base rate going over 1% anytime soon. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 2, 2017 Author Share Posted November 2, 2017 42 minutes ago, crouch said: Frankly I think this is little more than a reversal of the misstep they made last August when they brought rates down. I think it heralds nothing; it's a "one and done" and that the next move will in fact be down. Dream on. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 2, 2017 Author Share Posted November 2, 2017 9 minutes ago, PopGun said: +1 with 10 year fixes available under 2.8% I doubt very much the base rate going over 1% anytime soon. Define soon ? June ? Sept next year ? 2030 ? The wishful thinking brigade are out in force today. Do you think the bankers, given BrExit, house prices falling in London, some tasty inflation etc would do this with no reason ? There's a reason I'm getting out the UK, I have no intention of being here when TSHTF. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 2, 2017 Author Share Posted November 2, 2017 20 minutes ago, crashmonitor said: Exactly what the Markets are pricing in now, what the f%%k is the clown playing at. Can no one see what is really going on ? If you believe that then go buy a house. Quote Link to comment Share on other sites More sharing options...
BoredByTorque Posted November 2, 2017 Share Posted November 2, 2017 3 minutes ago, TheCountOfNowhere said: There's a reason I'm getting out the UK, I have no intention of being here when TSHTF. That's wise if you can. But does that mean staying in Europe, heading for the US, Asia?? When it hits the fan, I'm not sure any where will be safe. It may be a little sunnier, but not necessarily better Quote Link to comment Share on other sites More sharing options...
Errol Posted November 2, 2017 Share Posted November 2, 2017 27 minutes ago, Freezer? Best place for it said: There a chunt of a MP on "The Daily Politics" saying it will make a great difference to savers Did he explain how? Quote Link to comment Share on other sites More sharing options...
spyguy Posted November 2, 2017 Share Posted November 2, 2017 On 8/5/2017 at 5:27 PM, maverick73 said: Decision Factors. 1. Inflation - Above the 2% threshold. (The dependency is import oil prices, if oil prices rise, so does inflation) 2. Unemployment - Below 5%, signs of a stable economy. 3. Wage Growth - Stubbornly low at 2%. (Higher inflation creates wage growth). 4. Consumer Borrowing - Higher than 2008, but better regulations, and low costs of borrowing have helped. To crash the market as per 1978, requires 1. Thr price of oil to rise 2. Government instability 4. High unemployment 5. Wage growth stagnation Corbyn and comrades? Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted November 2, 2017 Share Posted November 2, 2017 34 minutes ago, Northern Welsh Midlander said: Well thats one off Carnages bucket list... Raised Interest Rates... no need to do it a second time. Usually when rates go up the currency rises. Not with the Gimp at the helm, the pound crashes lol https://www.bloomberg.com/news/articles/2017-11-02/pound-falls-gilts-up-as-boe-rate-hike-fuels-one-and-done-bets Quote Link to comment Share on other sites More sharing options...
spyguy Posted November 2, 2017 Share Posted November 2, 2017 http://www.bbc.co.uk/news/business-41831154 Interest rate rise: What you are saying 'Ian Sutton, a builder, has an interest-only mortgage that's linked to the standard variable rate, which moves in line with the UK's base interest rate. He says the rate increase could, potentially, have "quite a big effect" on his monthly finances. "It could tighten the budgets, maybe we wouldn't be doing the things we normally would. We won't be spending as much on going out and additional luxury items." Now that he's over 50, Mr Sutton says he would like to be saving more, but higher interest payments would make that more difficult.' A 50+ builder with an IO mortgage .... IR rises are the least of your problems. Quote Link to comment Share on other sites More sharing options...
crouch Posted November 2, 2017 Share Posted November 2, 2017 15 minutes ago, TheCountOfNowhere said: Dream on. You should read some of the comments in the media; see for instance :https://www.theguardian.com/business/2017/nov/02/bank-of-england-no-longer-bottle-interest-rate-rise. Larry Elliott is not alone. Many are unconvinced by this and believe that it was done more to preserve BOE credibility than for economic reasons. They are talking about two more potential increases between now and 2020. I think this unlikely as I think we may well go into recession in this period and if you think that this is the start of an escalator to the stars I suggest it is you who is dreaming on. Quote Link to comment Share on other sites More sharing options...
regprentice Posted November 2, 2017 Share Posted November 2, 2017 1 hour ago, TheCountOfNowhere said: Have you seen the panic on the TV !!! it doesnt take 5% to collapse house prices, it'll take 1%. Natiowide just texted me to tell me the Bank of England just raised rates and they would write to me if i'm affected. I've never heard from them by text before They could probably have bothered to check whether i was on a fix before sending a panicked text message....i imagine this is tostop their call centre being swamped with queriesfrom people who didn't know interest rates could go up... Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted November 2, 2017 Share Posted November 2, 2017 Two more rises before 2020.......... So that will be a 2% rise in 2018 and 2019 then? Quote Link to comment Share on other sites More sharing options...
Funn3r Posted November 2, 2017 Share Posted November 2, 2017 2 minutes ago, regprentice said: imagine this is tostop their call centre being swamped with queriesfrom people who didn't know interest rates could go up... "Hello it's Gavin here... er yes my username is SavBizMan... My question is - Is it legal for rates to go up?" Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted November 2, 2017 Share Posted November 2, 2017 3 minutes ago, Funn3r said: "Hello it's Gavin here... er yes my username is SavBizMan... My question is - Is it legal for rates to go up?" lol Quote Link to comment Share on other sites More sharing options...
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