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BOE rate decision

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Have the rate setters ever swung drastically from the previous month? Or has it always been a gradual shift between drop/hold/rise?

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Not under Carney's rule. Apparently all members of the MPC are meant to be independent. However they all seem willing look through, ignore, and believe forward guidance can resolve all the issues. 

They will today suggest a rate rise might occur towards the end of the year, though we know Santa won't be seeing that.

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Not a good example, but wasn't Brexit an example of your scenario? They went from hold and (if memory serves) one or two voting for a rise to cut cut cut...

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1 hour ago, Noallegiance said:

I can see it now:

"Come on someone. One of you needs to vote for a raise to at least make it LOOK like we're thinking about it. Otherwise it's names in a hat".

+1

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"But after a hearing on Tuesday when Ms Hogg was questioned about her adherence to orthodox Bank thinking, the MPs expressed concern there should a greater range of views in the Bank's senior ranks.

"We are concerned about the need to develop diversity of view at the Bank and the need to maintain vigilance to counteract groupthink," the committee said."

http://www.belfasttelegraph.co.uk/business/news/mps-warn-bank-of-england-about-groupthink-after-deputy-governor-appointment-35494810.html

Great diversity of opinion was shown today and I am convinced.

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And the best part is that this represents a vote that in all likelihood would only increase interest rates to the previous ridiculously low level...

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2 hours ago, GreenDevil said:

Another ridiclus decision to keep to zirp. Scumbags. Continue robbing the renter saver to service the endebtee.

The endebtee being the govt. 

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20 minutes ago, Dreamcasting said:

Ever increasing government debts. It's unlikely IRs are going up for many years, probably decades.

The US is increasing their base rate, maybe more to come this year. We have to follow suit....don't we?

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11 minutes ago, Drummer said:

The US is increasing their base rate, maybe more to come this year. We have to follow suit....don't we?

Not necessarily, the £ becomes worth less and less and from next year it ceases to be a major global currency.......

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