Pent Up Posted April 7, 2011 Share Posted April 7, 2011 No change and the pound has just plummetted on the news. Obviously some we're expecting a raise. Although to be fair that's not actually much of a drop. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted April 7, 2011 Author Share Posted April 7, 2011 Merv's like a parking meter. No Change Given Sadly for him this policy has reached the end of the line. "All change please." Quote Link to comment Share on other sites More sharing options...
thebigpicture Posted April 7, 2011 Share Posted April 7, 2011 No surprises today, rates held yet again, at what stage will the rate rise have to be? delaying now will further feed inflation with the consequences of possibly a bigger jump later on. Q1 figures should be out later this month, if positive then we may see Merv and co raise rates in May if inflation is as I suspect getting a great deal worse. If growth is negative again in Q1 then the BoE has some really serious problems to mull over? raise rates and kill even a slight growth chance in Q2 or keep on leaving rates as they are and further increase inflation? I hope they will have the balls to raise rates next month now at least .25 and see how the markets react, this will be a long drawn fight between inflation and deflation and I hope the balance will be even itself out into 2012. Quote Link to comment Share on other sites More sharing options...
Constable Posted April 7, 2011 Share Posted April 7, 2011 Looks like the market believed that they were going to hike for a moment... no chance. Quote Link to comment Share on other sites More sharing options...
mattyfc Posted April 7, 2011 Share Posted April 7, 2011 Yawn, there was no chance of a BOE hike today. Data has been mixed, whilst March looked quite strong employment solid, retail and production is a worry from Feb. Rates will go up in August if growth is maintained and confidence has improved a bit.. I doubt there will be enough strong data for there to be a May rise. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted April 7, 2011 Share Posted April 7, 2011 I expect they'll be watching developments like doves dressed as hawks. MPC hawk versus MPC dove --- rare picture Quote Link to comment Share on other sites More sharing options...
'Bart' Posted April 7, 2011 Share Posted April 7, 2011 Christ it was a HOLD I got it right at last So it's your fault! Can anyone clue me in. Is "vigilant" one of those words that have altered their meaning? Like "bad", "wicked" and "prudent". Quote Link to comment Share on other sites More sharing options...
Pent Up Posted April 7, 2011 Share Posted April 7, 2011 ECB raised to 1.25% as expected. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted April 7, 2011 Author Share Posted April 7, 2011 Can anyone clue me in. Is "vigilant" one of those words that have altered their meaning? Like "bad", "wicked" and "prudent". Yes, to be vigilant now means to turn a blind eye and unexpected means par for the course. Quote Link to comment Share on other sites More sharing options...
Patfig Posted April 7, 2011 Share Posted April 7, 2011 So it's your fault! Can anyone clue me in. Is "vigilant" one of those words that have altered their meaning? Like "bad", "wicked" and "prudent". Oh I thought it was vigilante! Quote Link to comment Share on other sites More sharing options...
Timm Posted April 7, 2011 Share Posted April 7, 2011 (edited) So it's your fault! Can anyone clue me in. Is "vigilant" one of those words that have altered their meaning? Like "bad", "wicked" and "prudent". No, the two meanings of vigilant are "watchful" and "wakeful", sometimes together as in "He kept vigil by the fire all night". There is nothing in the word to imply that any action would be taken, other than perhaps raising the alarm when the wolves turn up at 3.45 in the morning. Edited April 7, 2011 by Timm Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted April 7, 2011 Author Share Posted April 7, 2011 No, the two meanings of vigilant are "watchful" and "wakeful", sometimes together as in "He kept vigil by the fire all night". There is nothing in the word to imply that any action would be taken, other than perhaps raising the alarm when the wolves turn up at 3.45 in the morning. Although it this context it implies looking closely for signs of some activity that hasn't happened yet. Mervyn saying he will be vigilant about inflation is like Tepco saying they will be vigilant about signs of damage at Fukushima. Quote Link to comment Share on other sites More sharing options...
Timm Posted April 7, 2011 Share Posted April 7, 2011 Although it this context it implies looking closely for signs of some activity that hasn't happened yet. Mervyn saying he will be vigilant about inflation is like Tepco saying they will be vigilant about signs of damage at Fukushima. Ah, that's what you thought he meant, but not what he said. Clever isn't it? Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted April 7, 2011 Author Share Posted April 7, 2011 Ah, that's what you thought he meant, but not what he said. Clever isn't it? vigilant [ˈvɪdʒɪlənt] adj keenly alert to or heedful of trouble or danger, as while others are sleeping or unsuspicious Which bit of this definition fits the BoE's behaviour? Quote Link to comment Share on other sites More sharing options...
Tenubracon Posted April 7, 2011 Share Posted April 7, 2011 HOLD? Gee, I didn't see that coming! Quote Link to comment Share on other sites More sharing options...
Timm Posted April 7, 2011 Share Posted April 7, 2011 vigilant [ˈvɪdʒɪlənt] adj keenly alert to or heedful of trouble or danger, as while others are sleeping or unsuspicious Which bit of this definition fits the BoE's behaviour? All of it. They are keenly watching inflation rise, and have in fact started warning about it already. By the time the lumpen masses wake up, they will have been warning about it for some time. The next stage is when the man in the street realises that the reason he is getting poorer every month is in some way linked to the value of the pound, and that is in some way linked to the bank rate being so low. At that point, the BoE will announce that inflation is too high, that they have been warning about this for months and that they will "take all means necessary" to stop it spiralling out of control. Then and only then will they act. Quote Link to comment Share on other sites More sharing options...
thebigpicture Posted April 7, 2011 Share Posted April 7, 2011 (edited) All of it. They are keenly watching inflation rise, and have in fact started warning about it already. By the time the lumpen masses wake up, they will have been warning about it for some time. The next stage is when the man in the street realises that the reason he is getting poorer every month is in some way linked to the value of the pound, and that is in some way linked to the bank rate being so low. At that point, the BoE will announce that inflation is too high, that they have been warning about this for months and that they will "take all means necessary" to stop it spiralling out of control. Then and only then will they act. Timm, you are so right, how many people actually know what inflation is, why its happening and what is the cure? months of delay is making the cure harder. When the medicine inevitably comes it may have to be administered via a hose rather than needle. Edited April 7, 2011 by thebigpicture Quote Link to comment Share on other sites More sharing options...
'Bart' Posted April 7, 2011 Share Posted April 7, 2011 No, the two meanings of vigilant are "watchful" and "wakeful", sometimes together as in "He kept vigil by the fire all night". Ah, that's what you thought he meant, but not what he said. Clever isn't it? Certainly fooled me. Ah well. That's right. It's perhaps more akin to being called "******" by your friends which is apparently cool these days. Or was it warm? I forget. EDIT: Oh well you'll never find out. I found what I had to say very funny needless to say. I shall fill in the blanks using my own diseased imagination. Quote Link to comment Share on other sites More sharing options...
General Melchett Posted April 8, 2011 Share Posted April 8, 2011 He might as well say we have been purple or strudel or carpet for all it matters and all it means. Actually, saying that the MPC have once again chosen to be carpet makes a lot more sense than saying they are vigilant. Carpet is on the floor. It gets walked all over. etc Quote Link to comment Share on other sites More sharing options...
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