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Mpc Interest Rate Vote Tomorrow

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I'm interested to see what people think how the rate vote will go tomorrow.

For about two years I've always checked the news to see what it was, but for the last few months I haven't even bothered.

The BOE seem to have forgotten their remit.

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Nice set of options, you have covered all possible outcomes that the collection of BoE Muppet's have to chose from...

The only real question is when are they going to print again? The economy is getting withdrawal symptoms :lol:

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I think it will remain at 0.5% this month. However I think ultimately interest rates will rise.

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With the SNB reducing the interest rate by fifty basis points theyve laid down the guantlet of vigilance to the Mpc, the question is whether the MPC will be ballsy and vigilant enough to follow

Edited by Mary Cassatt

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If it were me I think I would just raise rates to 10%, and get the bust over and done with.

+1

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O.5, and Merve will sit down to write his letter and Osbourne will receive it and it will be filed in a box and the box will be filed in the archives ....

It's like a Gormenghast ritual now, I suspect they are getting to the point where the entire thing has moved into the realms of magical thinking. Merve probably has a special pen he uses to sign the letter, and he has to sit in a special way and wear a special pair of socks, and the letter has to be printed on a special printer with a certain type of ink cartridge and if anything at all deviates from the established pattern, all hell will break loose and the economy will crash totally and Britain will go up in flames. :o

One day, that's going to happen and Merve knows it, so he keeps adding new elements to the ritual just to make sure. Today, he is going to measure, to the second, how many steps he takes from the front door of his office to his desk to sit down to sign the letter just so he does it the same way next month.

Nothing can be left to chance. Nothing.

After all, this is the economy we are talking about. :D

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I'm interested to see what people think how the rate vote will go tomorrow.

I actually received a reply from Mervyn King to my letter regarding my moans and groans. The BoE opinion is that inflation is temporary and the causes will lose their effect in the near future, so inflation will fall below the 2% barrier without any help or stimuli. Yeah, right.

IRs will stay at near zero for years, to help the banks recapitalise. That's what it's all about. Although, this could go tits-up. I'm not convinced that RBS will not go under. If the zombie banks go, there won't be any reason for low rates.

Rates could stay low for years if the zombie banks don't go under. I'm thinking of an IOM. Much cheaper than rent.

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With the SNB reducing the interest rate by fifty basis points theyve laid down the guantlet of vigilance to the Mpc, the question is whether the MPC will be ballsy and vigilant enough to follow

The MPC doesn't have to deal with a rapidly appreciating currency though. They can afford a relaxed level of vigilance.

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For about two years I've always checked the news to see what it was, but for the last few months I haven't even bothered.

The BOE seem to have forgotten their remit.

As a number of current and former members of the MPC as far as I can recall have actually stated that they are supporting house prices. Which is clearly outside of thier remit, would it be possible for a court action against them colectively and individually for the loss suffered in the purchasing power of savers savings as a result of what can only be described as thier actions outside of the law.

Make for interesting rear end action on thier pants just thinking about thier gilt edged pensions evaporating. :lol::lol::lol:

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Due to the unforseen hot weather during summer months and Death finding a dead cat in the garden I think they will remain at 0.5%

I think that dead moggy may have bounced off the ground straight on to a trampoline...

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Back in the spring I had August as the first most possible month for a rate rise.

Alas I've long since revised that predicition to Feb next year.

Think you're still being a bit optimistic there mate.

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The MPC doesn't have to deal with a rapidly appreciating currency though. They can afford a relaxed level of vigilance.

I think he means the B of E are desperate to devalue sterling against any other currency - so now the Swiss have lowered their interest rate, the B of E have to do the same or risk sterling appreciating against the Swiss Franc.

This thread title is wrong. It is no longer an interest rate decision it is now merely a QE decision. When and by how much.

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  • 285 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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