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richc

Is Theresa May calling time on low interest rates?

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While monetary policy with super low rates and quantitative easing have provided emergency medicine, we have to acknowledge some of the bad side effects. People with assets have got richer, while people without have not…
A change has got to come, and we are going to deliver it because that’s what a Conservative government can do.

 

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4 minutes ago, TheCountOfNowhere said:

No.  Interest rates halved whilst she has been in charge,


Also, she has no say.  The bankers banmker is in charge.

Carney said that he would be leaving next year.  She could hold him to that.

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2 minutes ago, Crumbless said:

The pound is steady since her speech, so the   markets don't think so.

Those are the same markets that priced the pound at $2.10 in 2007.

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21 minutes ago, TheCountOfNowhere said:

When, Where ? 

When he was hired in 2012, he insisted that it was only for 5 years.

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37 minutes ago, TheCountOfNowhere said:

He's renowned for his forward guidance.

:D

As for May's comments, meaningless soundbites for the sheeple. 

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Carney's just lost his mandate.  I wonder what will happen?

IMO - not simply increasing interest base rates.  I'd guess some fiscal policy changes balancing first steps in reducing QE.

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I hate myself for being so cynical sometimes, but putting her quotes aside for a moment, what would her motivation be to actually do anything to reverse the inequitable effects of QE and ultra low interest rates? What is her track record in promoting such equitable policies? What are the odds that she's just jibberjabbering to make it sound like she actually gives a flying ****** about it? 

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13 minutes ago, Nabby81 said:

Quotes I saw she mentioned mortgage holders have got cheaper debt whilst savers have suffered ..maybe things are going to change 

:lol::lol:

Get a f**king grip.

She's preaching to the masses.

What they say and what they do are 2 different things.  I'd love to be proved wrong of course, history says otherwise.

Unless iof course they know the game is up and want to claim voctory by making houses cheaper.

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I think Carney will serve his "term" and not a day more.

Like "just call me Dave", he was clearly not in favour of Brexit and I think the increasing volatility that is coming our way would be a test for any man, least of all one who does not have his heart behind the principle.

It would not surprise me in the least if May ends the independence of the BoE before Brexit happens. She is making noises about being much more interventionist and let's face it, she might have to be.

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11 minutes ago, Futuroid said:

I think Carney will serve his "term" and not a day more.

Like "just call me Dave", he was clearly not in favour of Brexit and I think the increasing volatility that is coming our way would be a test for any man, least of all one who does not have his heart behind the principle.

It would not surprise me in the least if May ends the independence of the BoE before Brexit happens. She is making noises about being much more interventionist and let's face it, she might have to be.

As far as I am aware, the BoE govenor stays for 10 years....he's here till 2023.

 

if he stands down I would hope he would be arrested the same day,

Edited by TheCountOfNowhere

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Of course she won't do anything, why would she. Lots of empty sound bites about a fairer society, a fairer society without any policy to speak of..... Other than grammar schools. What's the old phrase 'watch people do, not what they say'. At the end of the day their ideology has brought about massive inequality, a failed bankrupt system of debt slavery and destroyed communities. You'd have to be an absolute moron to believe that this government would do anything for anyone other than themselves and their mates. 

On on a positive side this lot won't be half as good at spin and PR as the last lot, so should be easy to expose their camaflouge self serving capitalism!

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23 minutes ago, LC1 said:

I hate myself for being so cynical sometimes, but putting her quotes aside for a moment, what would her motivation be to actually do anything to reverse the inequitable effects of QE and ultra low interest rates? What is her track record in promoting such equitable policies? What are the odds that she's just jibberjabbering to make it sound like she actually gives a flying ****** about it? 

Frankly, I'd be shocked if she did do something to normalize interest rates, though it is a very interesting change in rhetoric.  Previously, prime ministers and chancellors would be crowing about interest rates having come down.  To now say that low interest rates have a down side is fundamentally new.

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16 minutes ago, TheCountOfNowhere said:

As far as I am aware, the BoE govenor stays for 10 years....he's here till 2023.

The Term is officially 8 years, but Carney explicitly stated he would step down after 5.

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5 minutes ago, richc said:

To now say that low interest rates have a down side is fundamentally new.

Perhaps in the Ivory Tower of Westminster, but everyone else with half abrain has been saying this for years. It's hardly shocking stuff. I'll give her the benefit of the doubt and patiently await her policy changes :)

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For some reason, even after 2007 and what's gone on subsequently, still think the government is in charge....meanwhile, 1 single banker decides the direct the UK is taking.

 

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