exiges Posted January 13, 2011 Share Posted January 13, 2011 There was a chap from the Spectator on 5 Live this morning confirming my belief that the BoE are allowing break-kneck inflation to inflate the national debt away. Quote Link to comment Share on other sites More sharing options...
martingale Posted January 13, 2011 Share Posted January 13, 2011 My feeling is that we at a tipping point with regard to public attitudes to inflation where a bit of direct action might change the media agenda and embarrass the BOE into actually doing something. "Thanks to Merv & the MPC the pound will soon be wallpaper" Anyone up for plastering the BOE with posters & Zimbabwean dollars? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 13, 2011 Share Posted January 13, 2011 (edited) I reckon they could get away with several 0.25% increases this year before they even touch inflation. The first rise will be as RBs article says to maintain credibility and to be shown to be acting to control it. Just to settle the markets and prove (?) they are in control. Probably not today but Feb or march Edited January 13, 2011 by Pent Up Quote Link to comment Share on other sites More sharing options...
Dorkins Posted January 13, 2011 Share Posted January 13, 2011 There was a chap from the Spectator on 5 Live this morning confirming my belief that the BoE are allowing break-kneck inflation to inflate the national debt away. Trouble is, they're not even achieving that. Tax revenues - the thing that will actually be used to pay the national debt - are going nowhere. Rising food/energy/housing prices and stagnant wages are making the national debt harder to service, not easier. Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted January 13, 2011 Share Posted January 13, 2011 Just read the minutes of the last meeting. Changed my mind to hold. These people really don't care about inflation, despite their mission statement. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted January 13, 2011 Share Posted January 13, 2011 I reckon they could get away with several 0.25% increases this year before they even touch inflation. The first rise will be as RBs article says to maintain credibility and to be shown to be acting to control it. Just to settle the markets and prove (?) they are in control. Probably not today but Feb or march Problem is, should they do that, then I (along with goodness knows how many others who are on very low base-rate linked SVRs) am going to go for a fixed rate ASAP. I wonder what effect several hundred thousand people simultaneously trying to remortgage would have on the market.. Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted January 13, 2011 Share Posted January 13, 2011 When is this announced? Quote Link to comment Share on other sites More sharing options...
exiges Posted January 13, 2011 Share Posted January 13, 2011 Trouble is, they're not even achieving that. Tax revenues Not today no, but inflation feeds through to wage demands, some sectors like BT have managed it (they were awarded 9.3%). It'll trickle through. Quote Link to comment Share on other sites More sharing options...
sympatex Posted January 13, 2011 Share Posted January 13, 2011 Not today no, but inflation feeds through to wage demands, some sectors like BT have managed it (they were awarded 9.3%). It'll trickle through. Were we?! I must have missed that memo! Perhaps this is over a 3year period? Quote Link to comment Share on other sites More sharing options...
Dorkins Posted January 13, 2011 Share Posted January 13, 2011 Not today no, but inflation feeds through to wage demands, some sectors like BT have managed it (they were awarded 9.3%). It'll trickle through. I'll believe it when I see it. Unemployment is high, profits are poor in many industries, and the public sector is laying off thousands. This is not a strong bargaining position for workers. Quote Link to comment Share on other sites More sharing options...
council dweller Posted January 13, 2011 Share Posted January 13, 2011 I'll believe it when I see it. Unemployment is high, profits are poor in many industries, and the public sector is laying off thousands. This is not a strong bargaining position for workers. Yes, Tesco announce 0.6% increase in sales (pretty dire when you consider inflation) and Halfords down over 6%. Bad numbers coming through now..... Quote Link to comment Share on other sites More sharing options...
gf3 Posted January 13, 2011 Share Posted January 13, 2011 I don't think interest rates will go up for a long time. Ask yourself these questions. Has the UK been living beyond it's means for the last 30 years importing more than we export? Do you think we will be poor now? There are two ways of us becoming poor ether we get wage cuts or things we buy will get more expensive Which way would the government choose to make us poorer? Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted January 13, 2011 Share Posted January 13, 2011 (edited) I reckon they could get away with several 0.25% increases this year before they even touch inflation. The first rise will be as RBs article says to maintain credibility and to be shown to be acting to control it. Just to settle the markets and prove (?) they are in control. + 1 Probably not today but Feb or march Or April or May. I have no idea. BUT! I just had an insight! The amount of delaying will be an indicator for how much they want/will/won't control inflation. The sooner they do it, more serious they will be (or just "appear" to be? ... sh!t, got confused with my insight now... ) Edited January 13, 2011 by Tired of Waiting Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 13, 2011 Share Posted January 13, 2011 Problem is, should they do that, then I (along with goodness knows how many others who are on very low base-rate linked SVRs) am going to go for a fixed rate ASAP. I wonder what effect several hundred thousand people simultaneously trying to remortgage would have on the market.. Would you? Remember those fixed rates won't look so appealing the moment the first rise is announced. Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted January 13, 2011 Share Posted January 13, 2011 The interesting bit of the minutes is how they worry a lot about inflation expectations. Currently only 1 of the 10 members wants an increase. Once 1 more changes his/her mind, it'lll generate more press about inflation expectations, and the rest will change their minds as a result of a self-fulfilling prophesy. Thats my hope anyway, but not convinced it'll happen anytime soon. 5 minutes to go.... Quote Link to comment Share on other sites More sharing options...
PopGun Posted January 13, 2011 Share Posted January 13, 2011 When will you guys realise that BOE logic dictates that the UK's fragile manufacturing and export industry is more important than savings rates on individual STR funds?!? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 13, 2011 Share Posted January 13, 2011 When is this announced? 2 minutes.... http://www.forexfactory.com/calendar.php Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 13, 2011 Share Posted January 13, 2011 When will you guys realise that BOE logic dictates that the UK's fragile manufacturing and export industry is more important than savings rates on individual STR funds?!? The uk has a manufacturing and export industry? Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted January 13, 2011 Share Posted January 13, 2011 When will you guys realise that BOE logic dictates that the UK's fragile manufacturing and export industry is more important than savings rates on individual STR funds?!? In terms of their remit, both are irrelevant. All they SHOULD care about is prices - nothing else. Quote Link to comment Share on other sites More sharing options...
Lepista Posted January 13, 2011 Share Posted January 13, 2011 Held, at 0.5%. Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted January 13, 2011 Share Posted January 13, 2011 Maintained.... http://www.bankofengland.co.uk/publications/news/2011/001.htm Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 13, 2011 Share Posted January 13, 2011 The interesting bit of the minutes is how they worry a lot about inflation expectations. Currently only 1 of the 10 members wants an increase. Once 1 more changes his/her mind, it'lll generate more press about inflation expectations, and the rest will change their minds as a result of a self-fulfilling prophesy. Thats my hope anyway, but not convinced it'll happen anytime soon. 5 minutes to go.... And that was before inflation expectations took a big jump in December. Nothing for now. Have to wait for the minutes to see if we got any more votes. Quote Link to comment Share on other sites More sharing options...
DontCareBear Posted January 13, 2011 Share Posted January 13, 2011 Held according to Sky news Quote Link to comment Share on other sites More sharing options...
Dorkins Posted January 13, 2011 Share Posted January 13, 2011 I am sure our wise overlords have chosen well for us, using the awesome power of fancharts. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted January 13, 2011 Share Posted January 13, 2011 Would you? Remember those fixed rates won't look so appealing the moment the first rise is announced. Interesting question; I'm with Nationwide on a effectively lifetime BOE+2% rate, which I lose if I remortgage. But I think a lot of people would be spooked.. Quote Link to comment Share on other sites More sharing options...
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