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maverick73

Interest Rate Decision - Bank policymakers voted 5-3

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Three Bank of England officials have called for UK interest rates to rise in a surprise move that signals policymakers are becoming more concerned about higher inflation even as the economy slows.  Bank policymakers voted 5-3 on Thursday to keep interest rates on hold at a record low of 0.25pc.  External members Ian McCafferty and Michael Saunders joined MIT professor Kristin Forbes in voting to raise rates by 0.25 percentage points to 0.5pc.  The last time there were three dissenting votes to tighten policy was May 2011.  The Monetary Policy Committee (MPC) said inflation had picked up more quickly than expected in since its last economic forecast in May. :D

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And in further unexpected news those 3 mpc members have all tendered their resignations and cancelled hillwalking holidays at the last minute.

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Watch what they do not what they say.

Rates haven't risen and won't rise anytime soon. This a deliberate move to talk up the pound and the markets. They are just playing games.

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1 minute ago, Errol said:

Watch what they do not what they say.

Rates haven't risen and won't rise anytime soon. This a deliberate move to talk up the pound and the markets. They are just playing games.

No chance.  It's coming.

P.S. Even with 0.5% IRs mortgage rates were MUCH higher until FLS pushed them down.

As I said...IT'S COMING...

 

https://moneyfacts.co.uk/news/savings/fixed-savings-rates-rise-further/

 

Fixed savings rates rise further

 

Fixed savings rates have been heading on a welcome path recently, with many averages rising consistently in recent months. Now, we've just hit another milestone: figures from the latest Moneyfacts UK Savings Trends Treasury Report highlight that all fixed bond rates increased this month, the first time the whole market has risen since October 2015

 

If you were stupid enough to take on debt during a financial crisis then you're potentiall seriously f**ked.  I'n with Venger on the, tough f**king luck mate.

Edited by TheCountOfNowhere

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55 minutes ago, TheCountOfNowhere said:

The thing that people really dont want to accept is, we are part of the US.

If they tell us to raise rates, we will.

Next US hike = UK hike.

 

Exactly... the UK cannot stomach another rate rise, inflation will rocket. I'm waiting for the oil bounce Jan '18... It takes six months to 1 year before OPEC cuts are realised, plus the purchase of US military equipment by the middle east should see oil output drop in the US 4th Qtr... as for house prices... well that falls under the fools theory... ;)

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3 minutes ago, maverick73 said:

Exactly... the UK cannot stomach another rate rise, inflation will rocket. I'm waiting for the oil bounce Jan '18... It takes six months to 1 year before OPEC cuts are realised, plus the purchase of US military equipment by the middle east should see oil output drop in the US 4th Qtr... as for house prices... well that falls under the fools theory... ;)

I had to re-read that, I see what you mean.

This is also how I read it.

Everyone should be contacting their MPs and DEMANDING a rate rise and a curb to the inflation

 

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21 minutes ago, rantnrave said:

When was the last one exactly?

It was Thurs 5th July 2007 at EXACTLY 12pm. 

Rates were increased from 5.5% to 5.75%.

 

http://www.bankofengland.co.uk/boeapps/iadb/Repo.asp

https://www.theguardian.com/business/2007/jul/05/interestrates.interestrates

So, next month, it will have been a DECADE since the last rise.

 

Edited by mrtickle

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20 minutes ago, mrtickle said:

It was Thurs 5th July 2007 at EXACTLY 12pm. 

Rates were increased from 5.5% to 5.75%.

 

http://www.bankofengland.co.uk/boeapps/iadb/Repo.asp

https://www.theguardian.com/business/2007/jul/05/interestrates.interestrates

So, next month, it will have been a DECADE since the last rise.

 

Inflation over the last 20 years... so in the past the BoE used interest rates to control affordability. In 2011 inflation was approx 4% the bank didn't flinch... now well it looks like the tides of change are upon us, the two shocks (Brexit, Trump) have yet to filter through into the wider economy.... the uncertainty creates a dash for safety.

Screen Shot 2017-06-15 at 15.09.21.png

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