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If The Boe Doesn't Raise Rates Now This Is A Breach Of Trust

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

With 490k new jobless claimants coming to a job centre near you, i think its very unlikely we will see any change in IR for 24 months at least

Good thing too. I'm paying off chunks of my mega mortgage at base +0.25 which is very welcome

ta muchly

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

There is no excuse.

They are stealing money from savers, anyone paying a mortgage/credit card debt and anyone buying anything in the UK that has risen because our currency has been devalued. The problem is that when they say "the banks are re-building their balance sheets" the general public seem to think that fairies come and do it during the night for free. They don't realise that they are paying for it via the theft that is QE.

Go burn an effigy of each member of the MPC outside the Bank of England. Be sure to leak the event to the media in advance.

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Any legal eagles on here know if he BoE policy could be subject to Judicial Review?

Here we have this (independent) "body" enacting public policy with damn all accountability. Not sure of the BoE could be regarded as a public body though.

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

I believe it was better when the gov't was responsible for setting IRs. At least t' gov't is kinda accountable and has some sort of mandate. I don't know what the BoE's remit for setting IRs is and who determines that remit. I suspect self-interest is an important consideration in their decision making. :unsure:

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

What, you actually believe they aren't taking the p1 ?

It is clear that the thieving bankers and robbing us blindand getting away with it. It is criminal and hopefully they will get their just deserts at some point in the future.

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I don't understand it when people say they are stealing money from savers. They can only steal it if you let them.

As soon as rates when to near zero i pulled all money out and put it to work elsewhere. If you have had your money 'stolen' then the only person to blame is yourself.

Edited by headrow

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With 490k new jobless claimants coming to a job centre near you, i think its very unlikely we will see any change in IR for 24 months at least

Good thing too. I'm paying off chunks of my mega mortgage at base +0.25 which is very welcome

ta muchly

smug ****

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they will soon have the excuse that VAT has gone up again (they are still using it from last year no?) so I don't think we will see rate rises any time soon.

The reason is that any Govt with a large debt pile WANTS inflation. It makes the nominal GDP increase so the debt pile they have to service gets proportionally smaller.

remember stagnant prices + inflation = real price falls.

The base rate is irrelevant to mortgages now anyway.

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Charlie Bean looking Hawkish to me having read his speech. Perhaps we will see the Hawk in Merv again? Seems to be realising they have got things wrong. Growth strongest for 10 years in the over last 2 quarters. I think there is a 50% chance of a 0.25% rise before the end of the year. Maybe even next week?

If they delay much longer they are risking a shock when they have to yank up rates sharply. Better to go slow, 0.25% a quarter will not harm growth at all. I think it could do a fair amount to curb imported inflation and start bringing things back to normal though.

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I don't understand it when people say they are stealing money from savers. They can only steal it if you let them.

As soon as rates when to near zero i pulled all money out and put it to work elsewhere. If you have had your money 'stolen' then the only person to blame is yourself.

Put money where?

Spiney.

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they will soon have the excuse that VAT has gone up again (they are still using it from last year no?) so I don't think we will see rate rises any time soon.

VAT rises massively distort the headline rate

Surely, the underlying trend is what is important?

CPIY, which strips out the distortion of the VAT changes is only 1.4% and is on a downward path

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Rates are not going anywhere , paying off a 1k a month off the capital as the mortgage amount is so unbelievably low on one of my btl's, just kept my payments the same.

Better than having savings in the bank, although have got a rainy day fund

Edited by mercsl

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They said the high inflation of the last couple of years was unexpected and temporary; that they couldn't raise interested rates for fear of deflation.

What will they do now that growth is higher than expected. That combined with inflation, what excuse is there left for failing to raise interest rates?

If they don't raise rates soon I feel this will be confirmation they are simply taking the p1ss.

How can we retaliate? Buy euros, dollars, gold, beans, what?

Who is we? A very small group of people. The only people who want high rates are savers with no debt. Most people either have debt or savings and debt.

I'm quite happy plodding along on my tracker rate mortgage. It would take some seriously high inflation to offset the money I have saved on my mortgage payments.

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Who is we? A very small group of people. The only people who want high rates are savers with no debt. ....

Correct.

The only people that want an HPC are those with no property.

The BoE want you to borrow and spend. They have said so. Why are people surprised when they use their power to induce people to do what they have said they want them to?

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Buy commodities. Take delivery. They hate that "bad" inflation. They want asset inflation, not commodity inflation. It really pees them off when the money flows the wrong way !

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No chance of an IR increase next month. Unexpectedly high growth figures will be put down as just one month's figures and not indicative of any trend. Iinflation being a full percentage over the target for over a year will be ignored.

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No chance of an IR increase next month. Unexpectedly high growth figures will be put down as just one month's figures and not indicative of any trend. Iinflation being a full percentage over the target for over a year will be ignored.

Problem is they said that last quarter, with this best Q3 in 10 years now in, if Q1 next year is better than estimates, with inflation sure to be going up in Q1, the pressure will be on.

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  • 261 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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