Noginthenog Posted September 29, 2017 Share Posted September 29, 2017 7 hours ago, shavedchimp said: http://www.bbc.co.uk/news/business-41439349 Hold on, wait for it...or don't hold your breath There is a really ironic quote in the Beebs article. Quote The governor also warned against "reckless" household borrowing. Shame he didn't warn the political class while he was at it! Bail out the banksters again and we'll get the guillotines ready... Quote Link to comment Share on other sites More sharing options...
RomfordDon Posted September 29, 2017 Share Posted September 29, 2017 I cannot see a rate rise this side of Christmas* * i am basing this solely on the fact I woke up on the left hand side of the bed Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted September 29, 2017 Share Posted September 29, 2017 The BBC are reporting the "expected rate rise" as bad news for borrowers and completely ignoring the fact that it is good news for savers. Quote Link to comment Share on other sites More sharing options...
Slimline Posted September 29, 2017 Share Posted September 29, 2017 Bulls@&#........! Quote Link to comment Share on other sites More sharing options...
Ah-so Posted September 29, 2017 Share Posted September 29, 2017 I reckon there will be a rate rise by Christmas. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted September 29, 2017 Share Posted September 29, 2017 Heard it all before from the gimp. ZZZZZZ getting rather tedious. Buy bonds while they are down! Quote Link to comment Share on other sites More sharing options...
MrXxx Posted September 29, 2017 Share Posted September 29, 2017 But do you think it is good news for savers Bruce?...I can see the banks being very slow to raise rates for savers if we get the rise....they won't need the savers money as a) demand for mortgages will reduce and their higher mortgage rates from svr will provide additional capital. Quote Link to comment Share on other sites More sharing options...
sisyphal Posted September 29, 2017 Share Posted September 29, 2017 He's led us a merry dance for 5 years now. I'd find it easier to believe him had it not just been 2 weeks since they voted to leave interest rates where they were. Maybe it's about what he's not saying. When he talks about Consumer Debt he mentions every type of debt (cars, cards and loans) apart from Mortgage Debt or Student Debt. Look at what's happened whilst he's been at the wheel: Consumer Debt up £38b Mortgage Debt up £125b Student Loan Debt up £54b So he's talking of a £38b increase whilst ignoring a £179b increase?   Quote Link to comment Share on other sites More sharing options...
durhamborn Posted September 29, 2017 Share Posted September 29, 2017 They arent going to put up rates because we are roaring away.Its because they want some ammo for the next recession and they think they have a window now.The Fed did the same thinking Japan and Europe were growing so could take the baton as they tighten.History will provide the answers if it was a mistake. Â Quote Link to comment Share on other sites More sharing options...
Houdini Posted September 29, 2017 Share Posted September 29, 2017 12 minutes ago, durhamborn said: They arent going to put up rates because we are roaring away.Its because they want some ammo for the next recession and they think they have a window now.The Fed did the same thinking Japan and Europe were growing so could take the baton as they tighten.History will provide the answers if it was a mistake.  History will show it’s a mistake - they should have done this (and a lot of other things) 5 years ago Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted September 29, 2017 Share Posted September 29, 2017 1 hour ago, MrXxx said: But do you think it is good news for savers Bruce?...I can see the banks being very slow to raise rates for savers if we get the rise....they won't need the savers money as a) demand for mortgages will reduce and their higher mortgage rates from svr will provide additional capital. My point was that the media is more concerned about borrowers than savers. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 29, 2017 Share Posted September 29, 2017 7 hours ago, Bruce Banner said: No jump in Sterling, looks like the markets don't believe the banker any more than we do! I believe it this time. Said months ago might see one by Christmas. Will be surprised by its coming, the us must a told them. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 29, 2017 Share Posted September 29, 2017 3 hours ago, fru-gal said: Surely their core voters (pensioners) are now suffering from low rates on their savings and pensions and most have paid off their houses so don't benefit from low mortgage rates anyway? Apart from the £1m tax free unearned equity Quote Link to comment Share on other sites More sharing options...
macca13 Posted September 29, 2017 Share Posted September 29, 2017 5 hours ago, maverick73 said: Nothing to do with timing... were all about to be squeezed by rising oil prices... a low pound + high oil prices is a volitile mixture? Surely if they don’t go up next meeting then the £ will crash back down to previous record lows just as oil goes up.. that would be a double whammy.. Quote Link to comment Share on other sites More sharing options...
adarmo Posted September 29, 2017 Share Posted September 29, 2017 2 hours ago, Houdini said: History will show it’s a mistake - they should have done this (and a lot of other things) 5 years ago If it turns out to be a mistake I'm pretty sure it'll be the future that will show this. Quote Link to comment Share on other sites More sharing options...
getknk Posted September 29, 2017 Share Posted September 29, 2017 mr.carnage is looking to change by 100th decimal.  so it wll be 0.26% Quote Link to comment Share on other sites More sharing options...
disenfranchised Posted September 30, 2017 Share Posted September 30, 2017 0.50% is where we were before Brexit. Back to that, nobody will notice. Wake me up at 1% Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 30, 2017 Share Posted September 30, 2017 4 hours ago, Bruce Banner said: My point was that the media is more concerned about borrowers than savers. Saw an article online a couple of weeks ago in the Telegraph about how BBC senior management are being supplied with youth mentors to help them understand those under the ago of 30. Meant to post it on hpc but cant find it now... Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 30, 2017 Share Posted September 30, 2017 I want rates to rise so I can practice what I preach re debt and then can justify financially repaying my mortgages. At the moment my average rate is well below inflation, tax deductible (S24 nice game changer) and net overall less than I get on my numerous savings (reward current accounts, heritage ISAs, premium bonds). I am fairly certain they will nudge up in November to 0.5% and the reason the pound hasn't reacted is because (as mentioned on this thread already) no one believes him or cares anymore...and if rates do rise to 0.5% it doesn't make much odds. This will be a boiling frog type killer for borrowers and will take 2/3 years before we hear the first squeals. Even then rates will still be relatively low and only the truly feckless (eg a 118'er with 20 houses) will be hit. I just hope no FTB'ers are being suckered in at these prices at the moment due to low rates. Quote Link to comment Share on other sites More sharing options...
winkie Posted September 30, 2017 Share Posted September 30, 2017 6 hours ago, disenfranchised said: 0.50% is where we were before Brexit. Back to that, nobody will notice. Wake me up at 1% Exactly...... after the credit crunch ten years ago BofE implemented an emergency interest drop down to 0.5%, then things got worse a greater economic emergency to cut the rate in half down to 0.25%......what is this telling people about the health of the financial, monetary system......not good news, actions speak louder than words..........the best way to save money nowadays and help stop impact of inflation and low rates eroding yesterday's earned money is to spend less and or repay debt. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted September 30, 2017 Share Posted September 30, 2017 13 hours ago, macca13 said: Surely if they don’t go up next meeting then the £ will crash back down to previous record lows just as oil goes up.. that would be a double whammy.. The markets have taken it as a sure thing... if the BoE vote is against raising the base rate pound will drop, into a holding pattern, until feburary, and inflation will bite harder. Quote Link to comment Share on other sites More sharing options...
macca13 Posted September 30, 2017 Share Posted September 30, 2017 11 hours ago, winkie said: Exactly...... after the credit crunch ten years ago BofE implemented an emergency interest drop down to 0.5%, then things got worse a greater economic emergency to cut the rate in half down to 0.25%......what is this telling people about the health of the financial, monetary system......not good news, actions speak louder than words..........the best way to save money nowadays and help stop impact of inflation and low rates eroding yesterday's earned money is to spend less and or repay debt. Things got worse? They anonced Brexit and the bank cut! Nothing actually happened, they just used it as an excuse to help their pals out.. some sort of white horse coming to save the day.. but no day needed saving.. it was bol oks Quote Link to comment Share on other sites More sharing options...
Simhadri Posted September 30, 2017 Share Posted September 30, 2017 Brexit will help Murdock and the ilk to buy British assets for cheaper prices once pound devalues in 2019. Its all about what I gain from this crisis instead of what is morally right thing to do. Welcome to capitalism. Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted October 1, 2017 Share Posted October 1, 2017 23 hours ago, Simhadri said: Â Welcome to capitalism. Not this again.... Quote Link to comment Share on other sites More sharing options...
assetpricing Posted October 1, 2017 Share Posted October 1, 2017 51 minutes ago, Noallegiance said: Not this again.... Both the UK current account deficit and net capital inflow deteriorate in recent months, with the extremely high household debt, Carney is facing a dilemma. No matter what he chooses, the result won't be good. There is not enough time for him to prepare his ammunition. Maybe Bank of England will ban cash to deal with the next recession. If we see a rate rising in November, how the UK 7 trillion £ house market will react? This time the extended Help to Buy schemes won't help much ...Maybe the auto loan will go burst first this time. Quote Link to comment Share on other sites More sharing options...
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