Jump to content
House Price Crash Forum
Sign in to follow this  
John The Pessimist

No Rate Rise Until 2016 - Hsbc

Recommended Posts

HSBC forecast (desperately hope) there will be no rate rise until 2016. The article (slightly rehashed press release) doesn't specify whether it's in our current calendar system or whether it will be stardate 2016......

http://www.telegraph.co.uk/finance/bank-of-england/11235420/Dont-expect-an-interest-rate-rise-until-2016.html

Share this post


Link to post
Share on other sites

Now here's a question. At the time rates first came down to 0.5, in March 2009 wasn't it - among forecasters, what was the latest date anyone offered as to when rates would start to rise again?

Did anyone come anywhere near saying 2016?

I seem to recall Roger Bootle saying "five years" and he was at the extreme pessimistic (?) end of the spectrum. Well that's already lapsed and all....

Share this post


Link to post
Share on other sites

http://www.taxresearch.org.uk/Blog/2014/02/24/hsbc-institutionally-corrupt/

http://www.globalpost.com/dispatch/news/regions/americas/united-states/140121/hsbc-paying-2-billion-drug-money-laundering-cartel

Maybe it's time the bankers were punished for their crimes.

Who do we vote for to get this ?

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Probably won't be until way after that either. Things look like they are starting to fall apart, can't see a rise in the next few years.

I can see there being a run on the pound in the next few years though, which will mean rates rising.

Share this post


Link to post
Share on other sites

I shamefully admit that I have just been approved for a 1.99% mortgage with HSBC, which tracks 1.49% above BOE base rate for life.

Property118 might have some information for you.

Share this post


Link to post
Share on other sites

The 30 year gilt is telling us it might be closer to 2061 than 2016.

50 years of QE....now thats an interesting thought.

Share this post


Link to post
Share on other sites

Now here's a question. At the time rates first came down to 0.5, in March 2009 wasn't it - among forecasters, what was the latest date anyone offered as to when rates would start to rise again?

Did anyone come anywhere near saying 2016?

I seem to recall Roger Bootle saying "five years" and he was at the extreme pessimistic (?) end of the spectrum. Well that's already lapsed and all....

Mainstream economists didn't see the GFC coming and still have no credible explanation for it - economic depressions are exogenous to the neoclassical/New Keynesian steady state model. Understandably, they also failed to anticipate the flat-line 'recovery' post-2008. In effect, these are two phases of the same deleveraging process.

Steve Keen is a much better guide, as ever.

The global economy won’t return to sustained growth until debt levels are substantially reduced. With debt at its current level, the general tendency of the private sector will be to delever, so that the change in credit will deduct from economic growth rather than contributing to it. Any short-term boost to demand from the Credit Impulse – such as that occurring in early 2011 – will ultimately dissipate, since if it were sustained then ultimately debt levels would have to rise again. Since the household sector in particular is debt-saturated, credit growth will hit a debt ceiling and give way to deleveraging again.

The US economy in particular is likely to be trapped in a never-ending sequence of ‘double dips,’ just as Japan has been for the last two decades.

Keen, Steve (2011-09-22). Debunking Economics - Revised, Expanded and Integrated Edition: The Naked Emperor Dethroned? (Kindle Locations 8534-8539). . Kindle Edition.

Edited by zugzwang

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 406 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.