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Interest Rates Held !

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The clocks still counting down on the HPC website. It's an hour behind the real world. i.e this post was actually written at 12.28 not 11.28

Edited by KickThemInThePant

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I saw it on the news in the canteen at work.

So no last ditch attempt to aid the economy.. or a realisation that lower interest rates mean more debt and we can't sustain what we have already...

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Raise 'em to control inflation, or reduce 'em to prevent the debt bubble from bursting and taking the entire uk economy with it.

How do you decide ?

Who'd be an MPC member now - not me !

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Held? Canadian rates just went up 0.25% with more hikes expected, and Thai rates up 0.5% with warnings of more to come, after Thailand's inflation rate hit a devastating 2.3%.

Oh, you meant '_UK_ interest rates held even while the rest of the world is starting to raise' :).

Something tells me I should be shifting even more money out of Sterling.

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Guest Bart of Darkness
Something tells me I should be shifting even more money out of Sterling.

Something tells me you'd be right to do so.

Any suggestions as to where we can put it? (nothing smutty please!)

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I've been putting it into Canadian dollars, but that's only because I'm hoping to be moving there: so far I'm ahead as a result, but I'm still a little concerned that I'd lose a fair amount if oil prices drop. Does seem a reasonable bet right now, though.

If I wasn't moving and was more concerned with making money than maintaining it, I'd probably stick it in foreign stock markets, or British energy company shares. It would be at least as risky, but should give a better return if the global economy keeps going.

As it is, I have more than enough in high-risk stocks already.

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RATES ARE UNCHANGED

The interest rate has been left on hold at 4.5%.

The decision from the Bank of England's Monetary Policy Committee was expected, with analysts saying the Bank would want to see how last month's 0.25% rate cut had affected spending.

Consumer spending has been sluggish over the past six months and August's cut was designed to encourage shoppers out once again.

The Bank did not think a stream of interest rate rises and the slowdown in house prices would hit spending as hard as it has.

Another problem is the MPC has to take the projected inflation figure in two years' time into account in its decision and the signs for that have been looking bleak because of soaring oil prices.

Four members of the committee last month voted against lowering the cost of borrowing because of their worries about inflation, which has recently climbed above its 2% level.

Since the August meeting, the Bank has predicted that economic growth will accelerate beyond 3% by 2007.

However, many other influential groups, including the OECD, predict that growth will be much slower and suggest more rate cuts will be needed.

http://www.sky.com/skynews/article/0,,30400-13432639,00.html

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Heard a woman comentator on BBC Radio 2 saying earlier, that we may have to wait until next year now for any further cuts !!

Not even a mention that they could possibly go up !!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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