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TheCountOfNowhere

Interest rates rises are NOT coming

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"Mark Carney says time not right for interest rate rise"

http://www.bbc.co.uk/news/business-40338570

 

Unreliable boyfirend...no...abusive husband who gets drunk and beats his wife.  IMHO


This man should be arrested, again IMHO.

 

Forest Gump must go.

 

Edited by TheCountOfNowhere

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Well if you want it will just have to borrow more, cause waste of time saving for anything, will be a fraction of what it was worth the day you worked to save it...... pointless trying to work out the future, live for today.;)

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So long as they are still being vigilant then ?

Its previously been observed on HPC that Carney has never presided over a rate rise so he's gonna need us to sharpen the pitchforks before its ever properly considered - even despite Yellen...

As Depeche Mode have been asking on their latest LP: Where's The Revolution?

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Inflation 3/4%, savings rates 0.5%, massive house price inflation, £ trashed, cost of living unbearable for most.


When exactly IS the time to raise IRs.

his man should be in prison. IMHO

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Cognitive dissonance at the Bank on a truly epic scale.  Their scientifically illiterate general equilibrium models have been predicting recovery for years and yet the real economy continues to pitch and flounder like a rudderless wreck. All I'm waiting for now is word of Carney sacrificing chickens in a toilet stall...

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5 minutes ago, adamLancs said:

He is just taking a gamble that inflation will peak about 4-5% and then settle back down again. I think it's done that before.

Last time inflation went to 4/5% savings rates were 4/5%.

 

Now savings rates are 1/2%.

 

I suspect Many MPs are getting letters off a lot of disgruntled old people this time.

 

Oil prices have come down in the last 3 months so I suspect inflation will fall quite quickly soon.  It might not stop this time.

Edited by TheCountOfNowhere

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.....shopping, a frozen food item displayed as so much for 450g.....everything was labeled 400g, nothing weighed 450g....pulled all the top items away and saw one pack left at the bottom still at 450g......inflation in practice, many many examples out there......next week it will be the same price but only get 350g.;)

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1 hour ago, TheCountOfNowhere said:

Last time inflation went to 4/5% savings rates were 4/5%.

 

Now savings rates are 1/2%.

 

I suspect Many MPs are getting letters off a lot of disgruntled old people this time.

 

Oil prices have come down in the last 3 months so I suspect inflation will fall quite quickly soon.  It might not stop this time.

I think not. In 2011 inflation went to well over 5% and savings accounts yielded around 2.75% (http://www.swanlowpark.co.uk/savings-interest-annual.jsp).

IMV the only way IRs will go up is if the pound collapses.

Also IMV we are in a deflationary environment; rates and inflation have been falling since 1981 and the deflationary forces are still there and indeed are increasing in some areas(demographics; automation; globalization).

I'm a saver and have lost quite a substantial amount over the last ten years due to low IRs; I wish they would  but I can't see rates increasing unless sterling tanks.

 

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3 hours ago, winkie said:

Well if you want it will just have to borrow more, cause waste of time saving for anything, will be a fraction of what it was worth the day you worked to save it...... pointless trying to work out the future, live for today.;)

Here's a hint: save in gold and silver. To steal that they actually have to come to you with guns.

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17 minutes ago, crouch said:

I think not. In 2011 inflation went to well over 5% and savings accounts yielded around 2.75% (http://www.swanlowpark.co.uk/savings-interest-annual.jsp).

IMV the only way IRs will go up is if the pound collapses.

Also IMV we are in a deflationary environment; rates and inflation have been falling since 1981 and the deflationary forces are still there and indeed are increasing in some areas(demographics; automation; globalization).

I'm a saver and have lost quite a substantial amount over the last ten years due to low IRs; I wish they would  but I can't see rates increasing unless sterling tanks.

 

Weird, I was getting 6% on some of my savings for years after 2007

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5 minutes ago, Locke said:

Here's a hint: save in gold and silver. To steal that they actually have to come to you with guns.

Not my cup of tea i'm afraid......;)

 

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Despite having traded sideways for the last five years, gold has done well in gbp due to the trashing if sterling.

Gold is still bloody expensive but so is everything. I think it will double in sterling prices in the next three years. 

But how i wish id bought some bitcoin back in 2011!

Ive no idea what the future of crypto currencies is.

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2 hours ago, otters said:

He doesn't want to lose his record of being a central bank governor that has never once raised interest rates.

But the longer he retains that reputation the more he gains the reputation of being an absolute dickhead.

The daughters and sons of the empire have returned to the motherland to scavage what remains of her rotting corpse.

Empires always end up destroying the home country innit.

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11 minutes ago, rantnrave said:

Carney can be outvoted though. The decision is not totally in his hands.

But now it looks like the others are going against him...so if it all collapses then he can say, well I told them so.  if not then he can saw...I was in charge.

He's a politician, a proper c**t of a man IMHO

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1 hour ago, thisisthisitmaybe said:

Despite having traded sideways for the last five years, gold has done well in gbp due to the trashing if sterling.

Gold is still bloody expensive but so is everything. I think it will double in sterling prices in the next three years. 

But how i wish id bought some bitcoin back in 2011!

Ive no idea what the future of crypto currencies is.

Fiat currency is like a confusing fog. 

The GBP price of gold is utterly irrelevant. What matters is the price of gold in loaves of bread, cubic meters of water or BTUs of energy.

If the price of gold doubles, but the price of bread triples, holding gold will lose you value, but nowhere near as much as if you held Fiat.

During hyperinflation, gold historically outperformed other asset prices.

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2 minutes ago, Locke said:

Fiat currency is like a confusing fog. 

The GBP price of gold is utterly irrelevant. What matters is the price of gold in loaves of bread, cubic meters of water or BTUs of energy.

If the price of gold doubles, but the price of bread triples, holding gold will lose you value, but nowhere near as much as if you held Fiat.

During hyperinflation, gold historically outperformed other asset prices.

I'm paying 30% less for bread than I did last year.

 

Howz gold looking now ?

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1 minute ago, Locke said:

Fiat currency is like a confusing fog. 

The GBP price of gold is utterly irrelevant. What matters is the price of gold in loaves of bread, cubic meters of water or BTUs of energy.

If the price of gold doubles, but the price of bread triples, holding gold will lose you value, but nowhere near as much as if you held Fiat.

During hyperinflation, gold historically outperformed other asset prices.

I don't think GBP price of gold is irrelevant if you are talking about hyperinflation, as that only occurs when a particular currency is absolutely trashed. You can't buy bread in gold, you have to convert the gold to sterling first, and then buy the bread in sterling. But bitcoin/crypto currencies may change this if they are accepted as payment for goods, which is perhaps why they have gone up in value so markedly of late.

Saying that, I don't think we will see hyperinflation, but we will see inflation. I just think sterling is going to be very low for the next three to five years compared to USD and that it is a good idea to have some savings in gold, especially if you are thinking of cashing it in and buying a (knock-down price) property in five years time.

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Didn't 3 MPC members vote for a rise at last vote? Clearly he is not on the same page as them! 

Edited by Ash4781

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