exiges Posted May 18, 2011 Share Posted May 18, 2011 (edited) 3-0-6 last month I reckon.. 2-0-7 this month ! Edited May 18, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
geezer466 Posted May 18, 2011 Share Posted May 18, 2011 When are they meeting? Given the runaway headline rate and Merv going public these last 10 days or so that rises were in the pipeline I reckon it is this Month. Up.25% Quote Link to comment Share on other sites More sharing options...
exiges Posted May 18, 2011 Author Share Posted May 18, 2011 When are they meeting? They've met. Today they're releasing the minutes of meeting, and saying how many people voted for rate rises, and how many for a rate freeze Quote Link to comment Share on other sites More sharing options...
jonboy2010 Posted May 18, 2011 Share Posted May 18, 2011 When are they meeting? Given the runaway headline rate and Merv going public these last 10 days or so that rises were in the pipeline I reckon it is this Month. Up.25% I reckon August rate rise 0.25% while the sun is still shining Quote Link to comment Share on other sites More sharing options...
pyracantha Posted May 18, 2011 Share Posted May 18, 2011 When are they meeting? Given the runaway headline rate and Merv going public these last 10 days or so that rises were in the pipeline I reckon it is this Month. Up.25% Not going to happen. We are being lied to. Merv knows what he is doing - and it's not the same as the things he says... :angry: Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 18, 2011 Share Posted May 18, 2011 3-0-6 last month I reckon.. 2-0-7 this month ! I think Broadbent (?) will come in with a vote to increase. He's signalled previously that he's on the hawkish side I think. I very much doubt he will be as hawkish as sentence though! Quote Link to comment Share on other sites More sharing options...
57percent Posted May 18, 2011 Share Posted May 18, 2011 I'm surprised they haven't raised by 0.25%. Would make very little difference, but give them a small amount of credibility. Right now the BoE and especially Merv are looking far out of their depth and they're continually misleading us to try to make it look ok, but it looks worse. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 18, 2011 Share Posted May 18, 2011 A full on HPC will ruin this country. A dose of inflation will only hurt this country. Whcih way will Merv go? Blindingly obvious IMO. Its ALL about house prices in UK Plc which is 70% driven and sustained by them. The BoE are there to serve the housing market and the Banksters who feed off it. Quote Link to comment Share on other sites More sharing options...
sarahleyburn Posted May 18, 2011 Share Posted May 18, 2011 It was 3-0-6 again (Sentance's last meeting): http://www.bankofengland.co.uk/publications/minutes/mpc/pdf/2011/mpc1105.pdf Regarding Bank Rate, six members of the Committee (the Governor, Charles Bean, Paul Tucker, Paul Fisher, David Miles and Adam Posen) voted in favour of the proposition. Three members of the Committee voted against the proposition. Andrew Sentance preferred to increase Bank Rate by 50 basis points. Spencer Dale and Martin Weale preferred to increase Bank Rate by 25 basis points. Quote Link to comment Share on other sites More sharing options...
exiges Posted May 18, 2011 Author Share Posted May 18, 2011 Regarding Bank Rate, six members of the Committee (the Governor, Charles Bean, Paul Tucker,Paul Fisher, David Miles and Adam Posen) voted in favour of the proposition. Three members of the Committee voted against the proposition. Andrew Sentance preferred to increase Bank Rate by 50 basis points. Spencer Dale and Martin Weale preferred to increase Bank Rate by 25 basis points. Regarding the stock of asset purchases, eight members of the Committee (the Governor, Charles Bean, Paul Tucker, Spencer Dale, Paul Fisher, David Miles, Andrew Sentance and Martin Weale) voted in favour of the proposition. Adam Posen voted against the proposition, preferring to increase the size of the asset purchase programme by £50 billion to a total of £250 billion When is his term finishing with the BoE. Whenever, it's not soon enough. Quote Link to comment Share on other sites More sharing options...
sarahleyburn Posted May 18, 2011 Share Posted May 18, 2011 When is his term finishing with the BoE. Whenever, it's not soon enough. August 2012. But he may seek a second term. Although he's promised not to if he decides his calls for more QE were mistaken... (I realise the question was rhetorical...) Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted May 18, 2011 Share Posted May 18, 2011 A full on HPC will ruin this country. A dose of inflation will only hurt this country. Whcih way will Merv go? Blindingly obvious IMO. Its ALL about house prices in UK Plc which is 70% driven and sustained by them. The BoE are there to serve the housing market and the Banksters who feed off it. Cannot fault what you are saying here RB. It's a completely rigged game where if they lose we'll all probably lose due to the whole fiat money system ceasing up. Quote Link to comment Share on other sites More sharing options...
Brave New World Posted May 18, 2011 Share Posted May 18, 2011 A full on HPC will ruin this country. A dose of inflation will only hurt this country. Whcih way will Merv go? Blindingly obvious IMO. Its ALL about house prices in UK Plc which is 70% driven and sustained by them. The BoE are there to serve the housing market and the Banksters who feed off it. You are correct but the consequence of inflation is doing the job the higher IRs would do in eroding away Mr and Mrs Mew every diminishing disposable income with personal debt rates on credit cards etc taking off regardless. Coupled with the bangster spread between BOE and their own rates of lending and IRs are increasingly irrelevant. The real sting in the tail is that QE funny money plus uncontrollable (with record IRs) imported inflation is a beast the Merv cannot and is not able to tame. Factor in other countries raising IRs and our own BOE IRs over the next 18 months will be a matter of conjecture once a month and little more. Chuck in a Black Swan and the UK is toast. (would i also be correct in saying a lot of 2 and 3 year tracker deals are coming to an end and will be popped onto new and improved Bangster +% boe trackers? Making the BOE IRs even more out of step with reality) Quote Link to comment Share on other sites More sharing options...
Nationalist Posted May 18, 2011 Share Posted May 18, 2011 A full on HPC will ruin this country. The real question is: do you want some pain now, or more pain later? So far they've continually taken the "later" option. An HPC isn't the end of the world. Some people struggle with negative equity until they save enough to pay down their debts, but life goes on. Last time (1989-1994) there were even negative equity mortgages so you could move house taking your negative equity with you. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 18, 2011 Share Posted May 18, 2011 the consequence of inflation is doing the job the higher IRs would do Except I still get a negative real rate on my savings and have to pay the higher fuel bills etc too - all for being prudent and not lying about my income on a mortgage application form. Quote Link to comment Share on other sites More sharing options...
billybong Posted May 20, 2011 Share Posted May 20, 2011 (edited) Old Lady retreats on inflation target to support the economic recovery. http://www.dailymail.co.uk/money/article-1388877/Old-Lady-retreats-inflation-target-support-economic-recovery.html?ito=feeds-newsxml The Bank of England was last night accused of risking its credibility after a top official admitted it has quietly dropped the 2 per cent inflation target to bolster economic growth Old Lady admits having dumped the inflation remit and so constructively resigns but still wants to carry on as before with the good wages, benefits and inflation linked pensions. Mind you the dumping wasn't mentioned in any of the BoE's reports or in any of the various letters. Give the job to someone who'll take it seriously. Edited May 20, 2011 by billybong Quote Link to comment Share on other sites More sharing options...
Traktion Posted May 20, 2011 Share Posted May 20, 2011 Why would they increase the base rate, before selling of gilts bought with QE (ie. shredding the printed money)? Quote Link to comment Share on other sites More sharing options...
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