R K Posted June 12, 2014 Share Posted June 12, 2014 http://www.bankofengland.co.uk/publications/Pages/speeches/2014/736.aspx Or Brazil v Croatia Quote Link to comment Share on other sites More sharing options...
shindigger Posted June 12, 2014 Share Posted June 12, 2014 Is this accidental? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 12, 2014 Share Posted June 12, 2014 I think you mean Carney lies Live Tonight 9pm Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 12, 2014 Share Posted June 12, 2014 Good time to bury bad news? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 12, 2014 Share Posted June 12, 2014 What a choice...watch a bunch of over paid muppets who just dive and cheat and squeal like big girls when they dont get their way.....or watch the football Quote Link to comment Share on other sites More sharing options...
singlemalt Posted June 12, 2014 Share Posted June 12, 2014 Good time to bury bad news?+1 Quote Link to comment Share on other sites More sharing options...
Corruption Posted June 12, 2014 Share Posted June 12, 2014 (edited) We all know that hes got the bubble under control, not that there is a bubble to be under control. And if there is a bubble there is nothing he or the BoE can do about it, thats down to Gidiot who has outsourced control over any bubble to the BoE. (who are doing a fantastic job of re inflating it) Edited June 12, 2014 by Corruption Quote Link to comment Share on other sites More sharing options...
Guest Posted June 12, 2014 Share Posted June 12, 2014 We all know that hes got the bubble under control, not that there is a bubble to be under control. And if there is a bubble there is nothing he or the BoE can do about it, thats down to Gidiot who has outsourced control over any bubble to the BoE. (who are doing a fantastic job of re inflating it) And let's not forget that if there were to be any limited adverse affects from this latest housing boom then they are absolutely and completely confined to London only. Cue George Osborne making a follow-up statement about Help to Buy helping hard-working families and wondering if Londoners have considered the marvellous opportunity that Shared Ownership represents. But who knows, Carney might surprise us. I suspect he actually is aware of the problems and does know what needs to be done. Whether the politicians will let him, and whether he is brave enough to contemplate the massive collateral damage any economic surgery would cause (given our still apparently ill-managed and precariously positioned banking sector, even six years after the first crisis), is another matter. Quote Link to comment Share on other sites More sharing options...
Corruption Posted June 12, 2014 Share Posted June 12, 2014 And let's not forget that if there were to be any limited adverse affects from this latest housing boom then they are absolutely and completely confined to London only. Cue George Osborne making a follow-up statement about Help to Buy helping hard-working families and wondering if Londoners have considered the marvellous opportunity that Shared Ownership represents. It truly is like living in a George Orwell novel. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 12, 2014 Share Posted June 12, 2014 If it's bad news from their perspective that's to be buried then it'll almost certainly be something for me to cheer. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 12, 2014 Share Posted June 12, 2014 They'll be discussing on BBC Radio London 94.9 tomorrow morning after 7.30am news Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 12, 2014 Share Posted June 12, 2014 "High house prices and extreme levels of household debt in general aren't a problem, as long as we keep interest rates low forever. I proved it in Canada. So let us continue to suck the shorts of bankers, while they continue to rip savers off, using our interest income destroying Funding for Lending and trap our house buyers in ever increasing amounts of debt". Quote Link to comment Share on other sites More sharing options...
shindigger Posted June 12, 2014 Share Posted June 12, 2014 If it's bad news from their perspective that's to be buried then it'll almost certainly be something for me to cheer. +1 Quote Link to comment Share on other sites More sharing options...
Rain'ard Posted June 12, 2014 Share Posted June 12, 2014 Going on their reputation. He will probably realise the Brazil football clash and post-pone it to Saturday 11pm Quote Link to comment Share on other sites More sharing options...
R K Posted June 12, 2014 Author Share Posted June 12, 2014 What a choice...watch a bunch of over paid muppets who just dive and cheat and squeal like big girls when they dont get their way.....or watch the football Genuine guffaw. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 12, 2014 Share Posted June 12, 2014 I wonder which football pun he will get into the speech? Quote Link to comment Share on other sites More sharing options...
R K Posted June 12, 2014 Author Share Posted June 12, 2014 (edited) This is Osborne's set piece speech too remember. I should have said that in the thread title. Anyway, looks like he'll be announcing giving the BoE FPC fresh powers (which I think they already have) to somehow restrict multiples of household income and/or LTVs. FPC already have macro pru tools to ensure 'financial stability' so the devil will no doubt be in the detail. Looks like Osborne is doing his best to make sure Carney's the patsy if/when it all goes t.u. though. Pestowire with the announcements http://www.bbc.co.uk/news/business-27819117 Tonight therefore the Chancellor is announcing, in his Mansion House Speech, that the FPC is unambiguously the boss of the regulators, by giving it the power to order these curbs on lending, rather than just propose such curbs. This power of instruction would extend as well to loans that are a high proportion of the market value of a house - although such high loan-to-value mortgages do not seem to be today's problem. In other words, the FPC will henceforth unambiguously have the ability to take the heat out of the housing market. We will learn later this month whether it is choosing to employ these powers right now. PS: George Osborne will also make it clear that these powers for the Bank of England to rein in risky mortgage lending will equally apply to mortgages insured by the Treasury's controversial help-to-buy scheme. Sounds like he's leaving the actual metrics to Marx Carney/FPC Up to now the FPC would 'propose' and the Chancellor would 'agree'. Seems Osborne wants the primary responsibility (blame) to lie firmly with the Bank. Nicely dodged. Edited June 12, 2014 by R K Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 12, 2014 Share Posted June 12, 2014 Why do we need 650 MPs when they keep passing their work and giving more power, to an unelected body? Is fiddling MP expenses really so time consuming? Quote Link to comment Share on other sites More sharing options...
R K Posted June 12, 2014 Author Share Posted June 12, 2014 Bumpity. Live link on OP. (I'm watching the footy) Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted June 12, 2014 Share Posted June 12, 2014 "There’s already great speculation about the exact timing of the first rate hike and this decision is becoming more balanced. It could happen sooner than markets currently expect." http://www.bankofengland.co.uk/publications/Documents/speeches/2014/speech736.pdf Quote Link to comment Share on other sites More sharing options...
wonderpup Posted June 12, 2014 Share Posted June 12, 2014 (edited) PS: George Osborne will also make it clear that these powers for the Bank of England to rein in risky mortgage lending will equally apply to mortgages insured by the Treasury's controversial help-to-buy scheme. So-to clarify- Osborn creates a scheme called Help to Buy which may cause a damaging housing bubble- but although he created it he cannot ascertain what kind of a threat it may represent so he has decided to give someone else the power to limit his scheme in case it blows up the economy. So what he is actually saying here is that he is too irresponsible to act wisely but hopes someone else will intervene to limit the damage his lack of responsibility may cause. And this is the man we have in charge of managing the nations finances? Surely it must be obvious that the need to give the B of E the power to shut down the scheme means that the bloody thing should not exist in the first place? Or does the calculation go like this: 1) Create Help to Buy in order to win the next election 2) This may cause a financial crash bringing misery to millions 3) Set up the Governor of the Bank of England to take the hit if (2) should happen 4) who gives a f*ck about screwing the economy as long as we get another five years of power. Yeah- this is the kind of people we need running the country. Edited June 12, 2014 by wonderpup Quote Link to comment Share on other sites More sharing options...
Ah-so Posted June 12, 2014 Share Posted June 12, 2014 It truly is like living in a George Orwell novel.Nothing like Burmese Days at all! Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted June 12, 2014 Share Posted June 12, 2014 Sterling up on Carney's interest rate comment. Quote Link to comment Share on other sites More sharing options...
weaker Posted June 12, 2014 Share Posted June 12, 2014 nobody will believe me but i just said to the GF that if the news is REALLY bad, Carney and Osborne will pay off the Brazl team to score an own goal... DAMN what were the odds? I could've been Rich.. Rich, I tell ya. Quote Link to comment Share on other sites More sharing options...
frederico Posted June 12, 2014 Share Posted June 12, 2014 Its just talk, talking doesn't change anything. Quote Link to comment Share on other sites More sharing options...
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