Thursday, Nov 08, 2007
As expected
BBC: UK rates stay unchanged at 5.75%
The Bank of England has kept UK interest rates unchanged at 5.75% for the fourth month in a row in a widely expected move.
Posted by holding out @ 12:03 PM (979 views) Add Comment
9 Comments
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1. sold out said...
Thank god mervyn is still in charge.Long live the King.
2. Another Alan said...
Sensible
3. tyrellcorporation said...
Next move up then? Discuss...
4. shipbuilder said...
Mervyn was being cursed up and down this blog in the past for his cautiousness - do we owe an apology?
5. seanb303 said...
shipbuilder
NO!
rates should have gone up to 6% last month but the cpi figure,moaning brokers and alistair darling
are pressurising mervin to keep them down
despite inflation running close to 14%(for things that people actually need to survive)
6. Olivier said...
What's up for December? 6% to tackle inflation or 5.5% to please the Xmas shopers... I would bet on another month of stagnation for IRs as the situation is maybe a bit too confusing at the moment for the BoE.
7. sold 2 rent 1 said...
Rising prices of food and energy (necessities) has the same affect as rising IRs (like a tax) when there are no wage rises to match.
This is why IRs won't go higher.
8. little professor said...
Still expect a cut early in the new year, as Christmas spending catches up and threatens to break the back of the poor MEWer.
9. Rimmer said...
STR1
Wages do end up matching eventially as the work force are forced to strike etc to maintain any kind of living standard, thats what the BOE know and the reason IRs rise to contain inflation