Thursday, Mar 05, 2009
I wonder what Blanchflower will be insisting on next?
BBC News: UK interest rates to fall further
''The Bank of England is expected to cut interest rates to a fresh all-time low and start increasing the money supply in an attempt to revive the economy.'' The next move should be to get rid of BOE....
Posted by hpwatcher @ 07:10 AM (753 views) Add Comment
12 Comments
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1. mark wadsworth said...
There's an MPC announcement today. That can only mean one thing. Halifax are going to publish their February figures.
2. alan said...
If the government reduced interest too far and savers and overseas depositors started to remove their money, what would be the first sign of banking collapse in the UK?
Would the Pound drop alarmingly, or would ATMs not work (like in the Ukraine, recently).
What will be the signs of the times?
3. Crunchy said...
2. alan said...Would the Pound drop alarmingly, or would ATMs not work (like in the Ukraine, recently).
crunchy-I mentioned electronic (ATM/internet) failier a couple of monthe ago. Watch this space!
4. 51ck-6-51x said...
Halifax report -17.7% YoY according to Sky News
5. hpwatcher said...
If the government reduced interest too far and savers and overseas depositors started to remove their money
This is already happening. Moreover, the UK is NOT the US......what may work in the US won't work here i.e. 0% interest rates.
6. timmy t said...
We will soon reach the point where all this talk about stashing savings under the mattress becomes reality. Banks will be paying NO interest on savings so the only decision will be "is my money more secure at home where it could get stolen, or in a bank which might not being able to pay it back?"
7. Happy Mondays said...
From someone who does not understand financial matters, Can interest rates stay low or will they have to rise eventually, and will they go to the other extreme?
8. A Solovine said...
Blanchflower's work is almost done here.
9. mark wadsworth said...
D4mn. I turn my back for an hour and my prediction at 1 comes true but somebody else beat me to linking to it.
10. str 2007 said...
Was looking into safety deposit boxes yesterday.
I noticed in Barclays terms they reserve the right to put the contents where they choose (at another site) without telling you.
Imagine the mayhem if they went belly up.
Does anyone think your cash/coins etc would be safer in a safety deposit box in the banks vault rather than as an electronic number ?
There is a small monthly charge for the box and a charge for access but even if the bank went bust surely you'd still be able to get access to your actual cash, even if it took a coupe of weeks.
Contents I believe are insured upto £250k.
Any opinions ?
11. 51ck-6-51x said...
str 2007 -
The insurance terms will usually severely limit cover for cash. For example, the standard AA contents cover only covers £500 of cash. So you would need to arrange specific extra cover, it would probably be cheaper to arrange it on it's own - but you must let both insurers know the position (for example, your contents will cover the first £500 with £50 excess, and your second policy will cover £1m with no excess).
12. str 2007 said...
51ck
Are you talking about 'home' contents insurance ?
I don't really like the idea of storing stuff at home, I think it only takes the slightest bit of info to slip into the wrong hands and you could spend the afternoon having your (or your childrens) finger nails extracted until you cough up the where abouts and code.
Mind you given this artcile
http://www.telegraph.co.uk/news/uknews/2066470/Safety-deposit-box-raids-yield-andpound1bn-of-drugs,-cash-and-guns.html
You wouldn't want some people to see you visiting a remote safety deposit box either.
I'm sounding a bit paranoid - sorry.