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Sisyphus

U K Trade Balance Worse Than Expected

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Visible Trade Balance GBP -6.06 billion (market expected GBP -5.55)

Trade Balance NonEU25 GBP - 3.195billion (market expected GBP- 2.75)

non of the economists polled by Blooomberg expected this low..

cable currently trading 1.739 (9.43am)

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I hope rates do not fall today. I think the currency needs to be protected for a while.

I would like to see rate go up, but I feel spending has slowed anyway and this may accelerate decent into a recession.

Nobody wants to be seen to have caused a recession, so the MPC may just wait for one to take hold.

It would be very difficult to get out of a recession though if we were to enter one with interest levels already low.

The MPC should really raise the base rate now so they have more tools available to fight a recession later on when it actually takes hold. Drifting into one is not good.

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The MPC should really raise the base rate now so they have more tools available to fight a recession later on when it actually takes hold. Drifting into one is not good.

It's too late now for that course of action.

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The MPC should really raise the base rate now so they have more tools available to fight a recession later on when it actually takes hold. Drifting into one is not good.

They should've done this years ago.

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I hope rates do not fall today. I think the currency needs to be protected for a while.

I would like to see rate go up, but I feel spending has slowed anyway and this may accelerate decent into a recession.

Nobody wants to be seen to have caused a recession, so the MPC may just wait for one to take hold.

It would be very difficult to get out of a recession though if we were to enter one with interest levels already low.

The MPC should really raise the base rate now so they have more tools available to fight a recession later on when it actually takes hold. Drifting into one is not good.

Sterling is below 1.74 this morning. It seems that the pound is under threat either way the MPC goes. If they raise rates HPC comes sooner rather than later. Sterling has been strong because of the MEW culture held up by low IR. If they lower, sterling drops as a result of perceived weakness in the economy. Its Gordon on the horns of a dilemma.

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They should've done this years ago.

The MPC have been like a rabbit in the headlights. Just sit there frightened, do nothing and hope that everything will be okay.

I remember Joe Simpson in Touching the Void saying that no matter how bad your predicament you have to keep making decisions.

The MPC haven't made any decsions. In fact, they haven't had a clear policy, only one of procrastination.

We'll suffer for this in the long run.

Edited by karhu

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Sterling is below 1.74 this morning. It seems that the pound is under threat either way the MPC goes. If they raise rates HPC comes sooner rather than later. Sterling has been strong because of the MEW culture held up by low IR. If they lower, sterling drops as a result of perceived weakness in the economy. Its Gordon on the horns of a dilemma.

I went into Central London yesterday at about 9 pm for dinner with friends.

Got off at Leicester Sq and was the only one on the entire up escalator (which is a very long one)!

Got out and walked to Covent Garden... it was like a ghost town!

I think people are spending all their disposable income on overpriced property they have bought in the past few years - none left to go out and enjoy life...

:(

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I think they'd love to cut IRs...but knowing that the ECB and Fed are going in the opposite direction has tied their hands. If the eurozone rate hits 3.25% and the US rate hits 5% as some people think they will, the BoE will simply have to raise the base rate, regardless of consumer activity etc. Correct? :unsure:

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I hope rates do not fall today. I think the currency needs to be protected for a while.

I would like to see rate go up, but I feel spending has slowed anyway and this may accelerate decent into a recession.

Nobody wants to be seen to have caused a recession, so the MPC may just wait for one to take hold.

It would be very difficult to get out of a recession though if we were to enter one with interest levels already low.

The MPC should really raise the base rate now so they have more tools available to fight a recession later on when it actually takes hold. Drifting into one is not good.

The media have yet to grasp it, but we are in ressession, have been since last year, everyone needs to wake up?!?

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We create £10bn per month in personal debt and send £6.6Bn straight abroad.

Economic genious, until it all someone asks for the bills to be paid.

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Cutting rates and trashing the pound won't help the trade balance much, because there's no British manufacturer or supplier of most of the things we import: and, even if there was, they'd be hard-pressed to compete with Chinese workers at $0.50 an hour... odds are trashing the pound would make the deficit worse as prices would increase in pound terms.

Labour have totally stuffed up the economy in this country.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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