Jump to content
House Price Crash Forum

Osborne Just Gave Green Light To Merv To Print


Recommended Posts

http://uk.finance.yahoo.com/news/osborne-says-bank-free-to-help-bolster-economy-reuters_molt-bf43ba4235b7.html?x=0

Osborne says Bank free to help bolster economy
:Economic news.8:50, Thursday 21 October 2010
LONDON (Reuters) - Bank of England monetary policy can help to shore up the economy while Britain is cutting public spending to rein in its budget deficit, Chancellor George Osborne said on Thursday.
"The country needs a decisive plan, we've set out the decisive plan ... It has some caution built into it, there is of course the freedom for the Bank of England to deploy monetary policy tools as well," Osborne told BBC Radio.

So much for an independent BoE.

Link to post
Share on other sites

LONDON (Reuters) - Bank of England monetary policy can help to shore up the economy while Britain is cutting public spending to rein in its budget deficit, Chancellor George Osborne said on Thursday.

"The country needs a decisive plan, we've set out the decisive plan ... It has some caution built into it, there is of course the freedom for the Bank of England to deploy monetary policy tools as well," Osborne told BBC Radio.[/indent]

So much for an independent BoE.

BoE also has to maintain financial stability as their main remit.

With fiscal austerity, I see little alternative but to print and/or keep base rates very low. This is the only possibility and will work just fine until there is a crisis and then all hell breaks loose.

That's why I've signed up to a tracker mortgage. My savings are being wiped out so am buying building land instead which has already crashed by ~60% near me.

Link to post
Share on other sites

He has already states they can print a week or two ago. The main obstacle to printing is inflation, at 3.1% (4.5% RPI) and looks set to rise further with higher commodity prices, the VAT rise and weak sterling.

Merv admitted on Sunday he expects inflation to be over target till the end of next year. I think we will be looking at 4-5% by January. If they decide to print with inflation at such a high level the MPC will be completely discredited. I think you would see a nasty reaction from the markets. The US is in a much better position to print than us as inflation is much lower and the $ is more resilient.

If growth slows down significantly and inflation falls under target we will definitely see printing. Until that happens the presses will remain on ice.

Link to post
Share on other sites

http://uk.finance.yahoo.com/news/osborne-says-bank-free-to-help-bolster-economy-reuters_molt-bf43ba4235b7.html?x=0

Osborne says Bank free to help bolster economy
:Economic news.8:50, Thursday 21 October 2010
LONDON (Reuters) - Bank of England monetary policy can help to shore up the economy while Britain is cutting public spending to rein in its budget deficit, Chancellor George Osborne said on Thursday.
"The country needs a decisive plan, we've set out the decisive plan ... It has some caution built into it, there is of course the freedom for the Bank of England to deploy monetary policy tools as well," Osborne told BBC Radio.

So much for an independent BoE.

Confirms my judgement that yesterday's CSR was for the banks.

More low interest liquidity for the banks and the perfect opportunity for the criminals to sell their toxic "assets" at an inflated rate, thus transferring more wealth from the people to the banksters.

Link to post
Share on other sites

Confirms my judgement that yesterday's CSR was for the banks.

More low interest liquidity for the banks and the perfect opportunity for the criminals to sell their toxic "assets" at an inflated rate, thus transferring more wealth from the people to the banksters.

I think thats the scam as well too.

Merv's remit is to keep his banker chums in bonuses.

Link to post
Share on other sites

how do you go about finding building land?

I'd be interested in a couple of plots at 60% off

The plot already has a small house on it, just came up on rightmove. Price is less than previous plots for sale that were between 1/3 and 1/2 of the size of mine. Forced seller with debt/divorce involved.

At the peak, 1/3rd acre and permission for 1 house would have an asking price of £350K (£400k for 0.4), a recent listing for 1.5 acres and permission for one house was £350K so you can get 4.5x more land now in this case. The plots are <100m away from each other with similar access and views so pretty comparable.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 415 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.