winkie Posted July 1, 2016 Share Posted July 1, 2016 What is he trying to do?....turning us Japanese?......no offence to any individual nation. You paid how much!!!!!........what a fool, far too much money than sense,.....a fool and his highly inflated money are easily parted...... Quote Link to comment Share on other sites More sharing options...
renting til I die Posted July 2, 2016 Share Posted July 2, 2016 Other currencies are available. But not so easy to hold in. Returns are low and fees are high. You may as well just hold the currencies at home. Quote Link to comment Share on other sites More sharing options...
Pork Pie Posted July 3, 2016 Share Posted July 3, 2016 Carney IS nothing but a LIAR, he was on numerous online fiance pages stating that if we leave, there will be NO cut in IR, how this SH*T still has a job, with all his BS, is beyond me... Quote Link to comment Share on other sites More sharing options...
otters Posted July 3, 2016 Share Posted July 3, 2016 Carney IS nothing but a LIAR, he was on numerous online fiance pages stating that if we leave, there will be NO cut in IR, how this SH*T still has a job, with all his BS, is beyond me... Talk sh!te confidently, back stab, renege on promises, telling blatant lies gets you everywhere these days, but you do need to be thick skinned. Quote Link to comment Share on other sites More sharing options...
R K Posted July 5, 2016 Share Posted July 5, 2016 Chris Williamson @WilliamsonChris UK PMI surveys already down into territory normally associated with #BoE rate cuts So whats it to be? 1. Rate cut? 2. QE? 3. FLS etc? 4. Forward guidance? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 5, 2016 Share Posted July 5, 2016 3. FLS etc?FLS taper starts at the end of this month - am waiting for that to be pushed back Quote Link to comment Share on other sites More sharing options...
InlikeFlynn Posted July 5, 2016 Share Posted July 5, 2016 Mark carney will be speaking in a few minutes. Chris Williamson @WilliamsonChris So whats it to be? 1. Rate cut? 2. QE? 3. FLS etc? 4. Forward guidance? All three?! Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 5, 2016 Share Posted July 5, 2016 July 2016 Financial Stability Report: http://www.bankofengland.co.uk/publications/Pages/fsr/2016/jul.aspx Quote Link to comment Share on other sites More sharing options...
R K Posted July 5, 2016 Share Posted July 5, 2016 (edited) Helia Ebrahimi @heliaebrahimi 4m4 minutes ago Breaking: BoE decides to scrap new capital requirements until next year in aftermath of referendum shock #brexit Helia Ebrahimi @heliaebrahimi 4m4 minutes ago Breaking: BoE gives £5.7bn capital boost to banks in hopes of seeing banks boost lending to the tune of £150bn #brexit Bank of England @bankofengland 3m3 minutes ago #FinancialStabilityReport – July 2016 http://ow.ly/bEmk301TSs5 Helia Ebrahimi @heliaebrahimi 6m6 minutes ago Today's £5.7bn capital boost for banks shd have a more immediate impact than the FLS scheme - but demand in the real economy has to be there Edited July 5, 2016 by R K Quote Link to comment Share on other sites More sharing options...
Granit Posted July 5, 2016 Share Posted July 5, 2016 Stream of Carney's speech from 11am Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 5, 2016 Share Posted July 5, 2016 Imagine gold and silver will gap up today after he opens his mouth again. Quote Link to comment Share on other sites More sharing options...
Errol Posted July 5, 2016 Share Posted July 5, 2016 Because obviously more debt is exactly what is needed. The answer is always more debt. Quote Link to comment Share on other sites More sharing options...
Inoperational Bumblebee Posted July 5, 2016 Share Posted July 5, 2016 http://www.bbc.co.uk/news/business-36712040 This makes absolutely no sense to me! "The Bank of England has warned consumers that high levels of debt could make them "vulnerable" to any economic downturn following the referendum." then "The relaxation of capital requirements should allow banks to lend more to households and businesses, the FPC said." Quote Link to comment Share on other sites More sharing options...
silver surfer Posted July 5, 2016 Share Posted July 5, 2016 Pushing on a string. Which bit of the real economy would even consider borrowing money to invest now? How long before government steps in with infrastructure projects? When they do civil engineering suppliers like Breedon Aggregates, at 61.5p right now but likely to fall still further in coming weeks, will really benefit. This must increase the chances of Heathrow getting that third runway! Quote Link to comment Share on other sites More sharing options...
R K Posted July 5, 2016 Share Posted July 5, 2016 Bank of England @bankofengland 3m3 minutes ago Carney: “The FPC is today reducing the countercyclical capital buffer on banks’ UK exposures from 0.5% to 0% with immediate effect” Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted July 5, 2016 Share Posted July 5, 2016 http://www.bbc.co.uk/news/business-36712040 This makes absolutely no sense to me! "The Bank of England has warned consumers that high levels of debt could make them "vulnerable" to any economic downturn following the referendum." then "The relaxation of capital requirements should allow banks to lend more to households and businesses, the FPC said." Seems to me like this is about advance protection of the banks more than the economy. Banks are well recapitalised and don't need the extra buffer, blah blah, this translates to an extra £150bn credit that they have to lend, blah blah. Nothing to see here people, all is fine. The warning to consumers reads to me like "There's a £150bn of credit out there if you're stupid enough to go and take some of it on, but good luck paying it back." Quote Link to comment Share on other sites More sharing options...
Errol Posted July 5, 2016 Share Posted July 5, 2016 http://www.bbc.co.uk/news/business-36712040 This makes absolutely no sense to me! "The Bank of England has warned consumers that high levels of debt could make them "vulnerable" to any economic downturn following the referendum." then "The relaxation of capital requirements should allow banks to lend more to households and businesses, the FPC said." Perfect sense. The solution to a debt problem is always more debt. You just keep on piling on debt on top of debt on top of debt and eventually everything turns out wonderfully. It's the modern economic theory. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 5, 2016 Share Posted July 5, 2016 Perfect sense. The solution to a debt problem is always more debt. You just keep on piling on debt on top of debt on top of debt and eventually everything turns out wonderfully. It's the modern economic theory. Carney supports Osborne, Osborne is still chancellor . Quote Link to comment Share on other sites More sharing options...
R K Posted July 5, 2016 Share Posted July 5, 2016 Chris giles (FT) rolling his eyes at Kamal Ahmed (BBC) ra ra ra question. hilarious. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 5, 2016 Share Posted July 5, 2016 Perfect chance to re-balance the economy and blame it on Brexit vote. Of course, they would need to be seen to be doing everything possible to maintain the status quo. Is this what they're doing? Quote Link to comment Share on other sites More sharing options...
R K Posted July 5, 2016 Share Posted July 5, 2016 "Banks have more capital than they need" Macropru policy cuts both ways. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted July 5, 2016 Share Posted July 5, 2016 Imagine gold and silver will gap up today after he opens his mouth again.I suspect other G nations will be following in similar fashion. We won't be alone in this mess, which has nothing to do with false flag referendum. Lower IR's, more liquidity on the way globally methinks.For me gold is definitely in bull territory, nothing transient about raised price of gold any more..._ Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted July 5, 2016 Share Posted July 5, 2016 They're playing a very dangerous game IMO. My current job is well paid but stressful. I tolerate it for now, as I am socking away large amounts into my company pension via salary sacrifice. This forms a large part of my investment strategy, and the aim is to retire reasonably early and be self sufficient, not a drain on the country. However, if they keep trashing pensions and other forms of saving, my response will be to slash my discretionary spending and also to ease back on my work and go part time, possibly in a lower paid but less stressful job. If they're going to keep screwing me over, I figure I may as well enjoy life to the max whilst I still have my health. Fortunately, the things I enjoy are relatively cheap or even free, such as walking. Repeat this for several hundred thousand decent earners, and suddenly the tax take collapses. This is a very similar situation to my own. Salary sacrifice is the only reasons I work full-time, otherwise there would be no point. My effective marginal tax rate is 65% and I can reduce this to 15% in the future using pensions. I just won't work at 65% EMTR. The Head of Engineering just retired at 58, just not worth working any more and would rather have time rather than heavily taxed money. He had been putting away close to the maximum into pension via sacrifice for the last 10 years. I've now got his job and am already working out when I can go part time. The Finance Director is already down to 4 days a week, looking to do 3. The next generation will find it much harder if they are carrying huge mortgage debt, no chance to put two fingers up. Quote Link to comment Share on other sites More sharing options...
A.steve Posted July 5, 2016 Share Posted July 5, 2016 (edited) Bank of England @bankofengland 3m3 minutes ago Carney: “The FPC is today reducing the countercyclical capital buffer on banks’ UK exposures from 0.5% to 0% with immediate effect” Should this be read as admitting that the cycle has turned? Carney supports Osborne, Osborne is still chancellor . For how much longer? Edited July 5, 2016 by A.steve Quote Link to comment Share on other sites More sharing options...
InlikeFlynn Posted July 5, 2016 Share Posted July 5, 2016 July 2016 Financial Stability Report: http://www.bankofengland.co.uk/publications/Pages/fsr/2016/jul.aspx Thanks for flagging this up. I don't have time for the full report but I have just read the executive summary. There are some really interesting graphs in it, and the commentary is frequently quite disturbing. "Challenges to the outlook for financial stability The FPC judges that the current outlook for financial stability is challenging. It is monitoring closely the risks of...... Adjustments in commercial real estate markets tightening credit conditions. Any adjustment in CRE markets could potentially be amplified by the behaviour of leveraged investors and investors in open-ended commercial property funds. Although they have a range of measures to manage stressed levels of redemptions, these open-ended funds could be forced to sell illiquid assets to meet redemptions if conditions persist beyond funds’ notice periods. Any such amplification of market adjustments could affect economic activity by reducing the ability of companies that use commercial real estate as collateral to access finance." Which seems pretty close to what has happened with Standard Life's REIT Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.