TheCountOfNowhere Posted July 13, 2017 Share Posted July 13, 2017 First the FED. Now the Canadians. Big 5 banks increase prime rates after Bank of Canada's interest rate hike http://www.cbc.ca/news/business/prime-interest-rate-increases-1.4201403 http://www.abc.net.au/news/2017-07-13/bank-of-canada-raises-rates-but-fed-yellen-hints-at-gradual/8704670 "Will Australia need to match overseas rate hikes?" Oz next ? Then the UK i;d wager. All this house price chatter in the media is not a coincidence. Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted July 13, 2017 Share Posted July 13, 2017 The temperature of the water is slowly being increased but will the frogs notice before it's too late? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 13, 2017 Author Share Posted July 13, 2017 1 minute ago, JustAnotherProle said: The temperature of the water is slowly being increased but will the frogs notice before it's too late? I'm sure the French are in on it too . The western governments have colluded on the way down and you can bet your bottom Canadian dollar on the way up too. I wonder when people are going to twig and panic. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted July 13, 2017 Share Posted July 13, 2017 It would make sense to have BoE as a "Tracker" - we all know they will follow the Fed. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 13, 2017 Author Share Posted July 13, 2017 4 minutes ago, Mine the wheatfield said: It would make sense to have BoE as a "Tracker" - we all know they will follow the Fed. Plenty people in denial about this. They should raised 0.25 months ago when it became apparent they were f**king robbing us all blind Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 13, 2017 Share Posted July 13, 2017 Does it make any difference while FLS and TFS are still going? Quote Link to comment Share on other sites More sharing options...
crouch Posted July 13, 2017 Share Posted July 13, 2017 I would say that there is a significant probability that the next rate movement will be down - to 0.1%. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted July 13, 2017 Share Posted July 13, 2017 Carnage is "wanting to do the right thing". He's just a bit slow on the uptake. Quote Link to comment Share on other sites More sharing options...
Society of fools Posted July 13, 2017 Share Posted July 13, 2017 5 minutes ago, crouch said: I would say that there is a significant probability that the next rate movement will be down - to 0.1%. I agree. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 13, 2017 Author Share Posted July 13, 2017 28 minutes ago, wotsthat said: They have to make sure their friends and friends friends have left the exit the market first, then it's well on the way for being too late for rest. You have clearly not been keeping up http://www.dailymail.co.uk/news/article-2616510/Duke-Westminsters-property-company-sells-240million-luxury-homes-fears-London-bubble-burst.html Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 13, 2017 Author Share Posted July 13, 2017 (edited) 7 minutes ago, Society of fools said: I agree. Based on what, wishful thinking ? The Torys are back in charge of the Tory party https://www.theguardian.com/politics/2016/oct/18/william-hague-attacks-bank-of-england-over-ultra-low-interest-rates Edited July 13, 2017 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
darkmarket Posted July 13, 2017 Share Posted July 13, 2017 41 minutes ago, Bruce Banner said: Does it make any difference while FLS and TFS are still going? McCafferty called for them to be discussed today. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted July 13, 2017 Share Posted July 13, 2017 1 hour ago, Social Justice League said: Carnage is "wanting to do the right thing". He's just a bit slow on the uptake. What? Whiskey and revolver? Bit late now he has assisted in shagging the UK economy. Quote Link to comment Share on other sites More sharing options...
longgone Posted July 13, 2017 Share Posted July 13, 2017 1 hour ago, TheCountOfNowhere said: You have clearly not been keeping up http://www.dailymail.co.uk/news/article-2616510/Duke-Westminsters-property-company-sells-240million-luxury-homes-fears-London-bubble-burst.html did him a lot of good http://www.bbc.co.uk/news/uk-37049354 Quote Link to comment Share on other sites More sharing options...
adarmo Posted July 13, 2017 Share Posted July 13, 2017 2 hours ago, crouch said: I would say that there is a significant probability that the next rate movement will be down - to 0.1%. Sort of agree with you there, though I hope not as I've just fixed. Ideal would be rising for a couple of years before falling again just before I remortgage so I can have two years of cheap cycling holibobs in the Alps and Spain while enjoying my virtually free money mortgage. Quote Link to comment Share on other sites More sharing options...
adarmo Posted July 13, 2017 Share Posted July 13, 2017 2 hours ago, TheCountOfNowhere said: You have clearly not been keeping up http://www.dailymail.co.uk/news/article-2616510/Duke-Westminsters-property-company-sells-240million-luxury-homes-fears-London-bubble-burst.html If yesterday's paper shows yesterdays news then what does three year old news show? Quote Link to comment Share on other sites More sharing options...
adarmo Posted July 13, 2017 Share Posted July 13, 2017 1 hour ago, longgone said: did him a lot of good http://www.bbc.co.uk/news/uk-37049354 you can't take it with you. Quote Link to comment Share on other sites More sharing options...
Calcutta Posted July 13, 2017 Share Posted July 13, 2017 Lot easier to hide cash from inheritence tax than a load of houses. *Sure they would've managed though. Quote Link to comment Share on other sites More sharing options...
Society of fools Posted July 14, 2017 Share Posted July 14, 2017 12 hours ago, TheCountOfNowhere said: Based on what, wishful thinking ? Ha ! That's a good one. Its Carney's track record that gives me pause. He could have raised on multiple occasions in the past few years, especially pre the Brexit vote. Now the UK economic situation is poorer, slowing growth, current account woes, house prices stagnant etc etc. For him to raise now would be a repudiation of everything he's ever said on when the timing is right for a BOE rate rise. I realize that his credibility is utterly shredded with most people on this site and with a lot of Tory MPs as well, but he still carries a certain gravitas in come circles. He won't want to lose that by looking like a complete tool. Quote Link to comment Share on other sites More sharing options...
Society of fools Posted July 14, 2017 Share Posted July 14, 2017 Incidentally it will soon be 7 ( yeah, seven !!) years since Carney last raised an interest rate. It was in September 2010, at the Central Bank of Canada. Loooooooong time ago....... Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted July 14, 2017 Share Posted July 14, 2017 1 hour ago, Society of fools said: He won't want to lose that by looking like a complete tool. No, forward guidance does that. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted July 14, 2017 Share Posted July 14, 2017 i think he will either raise around Christmas or very early next year by 0.25%. As everyone else raises his hand will be forced (more raises to follow). They propped up and even stoked a fresh bubble, left it until things are about to crash then forced to raise rates. Still all about boom and bust, should be a nice bust this time around, sounds like the falls in London are slowly spreading. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted July 14, 2017 Share Posted July 14, 2017 (edited) Seems Carnage et al are getting frustrated that banks aren't lending with the "responsible spirit" they're after so I think the only way will be to raise, essentially banks are being forced to lend and lend recklessly due to rates being on the floor. I don't think this time is different, Brexit or not, the shift in BOE sentiment for reigning in QE in just the past few months has been very revealing indeed. Personal defaults moved up sizeably in the first quarter, this shouldn't be happening as unemployment keeps hitting record lows, and IRs at a historical low allowing you to shift debt around for free, if anything the banks pay you in cash back and rewards. We've reached peak affordability and debt saturation, much of which has been to maintain our lifestyles as they were prior to the last crash, when the fundamentals where much stronger. Edited July 14, 2017 by Barnsey Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted July 14, 2017 Share Posted July 14, 2017 15 hours ago, Mine the wheatfield said: What? Whiskey and revolver? Bit late now he has assisted in shagging the UK economy. lol, maybe he's hoping to be back in Canada before the economy goes to hell in a handcart. Then he can say the good old "Not on my watch". Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 14, 2017 Share Posted July 14, 2017 If rates don't increase what's the plan for the next official recession? Free money has brought booming growth and interest rates are the lowest in BoE history. Quote Link to comment Share on other sites More sharing options...
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