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Guest The_Oldie

Will Halifax Latest Figures Affect Mpc Decision?

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Guest The_Oldie

Surely with house prices racing ahead again, 1.6% in August, the MPC will have no option but to raise interest rates tomorrow to control HPI :rolleyes:.

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WOuldn't go that far.

But for people with their eyes and ears even half open it must raise questions.

If the BOE cut interest rates to support consumer spending and housing and then inflation and house prices increase it just makes them lall ook completely bl&&dy stupid.

I believe that contradictory data like this actually undermines confidence in the medium / long term. How can it do anything else when it appears none of them know what they're doing.

It has been argued that if Merv and the boys supported a hold last month then now Bean and his bozzos have been proved trigger happy then there should be votes for a rise this month. If this housing data is true then they should.

Again can't see it happening and if they hold they'll presumably have to give some explanation about the quality of the housing data. Halifax themselves put a disclaimer on the rise. IMO they really needed to get a big number under their belts to stop the YOY going negative in the near future, which is what really counts.

Shouldn't let anyone keep driving hard bargains though if their in the market. At the end of the day the buyer still dictates the price.

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  • 337 Brexit, House prices and Summer 2020

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