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FrozenOut

No Move On Interest Rates

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LOVE THIS ON THE BBC WEBSITE!!!

Apart from the usual - Oh dear - you have to reduce IR's BIAS!!! this quote at the bottom was a classic.

And yes - there WAS a spelling mistake in it - typical BBC!

"Next week brings the BoE quarterly inflation report and this has huge influence on any potential base rate move," said Ray Boulger of mortgage adviser John Charcol.

"Deapite earlier hopes of a cut this month a 'no change' decision was widely expected. However, we firmly believe the trend is still downwards and therefore this is a cut 'deferred', not a change of heart."

To quote this in football terms.

"Despite earlier hopes of overtaking Manchester United a 'silly loss' was widely expected. However, we firmly believe we are moving UP the table, and therefore this is a defeat 'deferred' to allow Manchester United to attain a bigger lead, not a sign we are playing poorly."

TB

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Took the opportunity to moan as well.

http://news.bbc.co.uk/1/hi/business/4696680.stm

More biased reporting.

Since you've sounded out everyone who is in favour of a cut, you have failed to get the opinions of those who are saving hard for their future and getting a pittance on their savings.

There are TWO sides to every story, I think you should take some corrective action on this report and mention the disappointment felt by hardworking savers.

Also you might want to check the sales figures for online shopping, they are still doing excellently, people have changed their shopping habbits - it's not all about the high street anymore, although I'm hardly surprised your organisation has failed to notice that.

Regards

FrozenOut

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"Despite earlier hopes of overtaking Manchester United a 'silly loss' was widely expected. However, we firmly believe we are moving UP the table, and therefore this is a defeat 'deferred' to allow Manchester United to attain a bigger lead, not a sign we are playing poorly."

:lol:

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Guest The_Oldie

More spin from the BBC.

Just to make sure that we all know the housing market is recovering, the BBC have this to say....... :rolleyes:

The Bank's Monetary Policy Committee (MPC) is believed to have based its decision on signs of a sustained recovery in the housing market.

http://news.bbc.co.uk/1/hi/business/4696680.stm

Never mind, rates will go down soon.....

However, some economists expect the MPC to make a rate cut later this year - possibly in the spring.

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They're coming to interview me in early March - house prices are a key problem for small businesses down this way - will show them the damage that HPI is doing down here.

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They're coming to interview me in early March - house prices are a key problem for small businesses down this way - will show them the damage that HPI is doing down here.

I hope you will also include the cost of business premises and rates, I know many people who have no intention of expanding becuase of the cost of these. They have let land prices escalate and done absolutely nothing about it, totally ignored it as if it is not a factor.

Could also point out that you are draining funds from your business in order to live.

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Could also point out that you are draining funds from your business in order to live.

Their solution would then be to cut interest rates so you could borrow more...

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Dear Frozen Out

I complained as well to the BBC re their one sided view on interest rates, and comment about house prices surging in light of the land registry report and I got this response.

"Surveys suggest that a clear majority of City analysts believes that

interest rates are likely to be cut by a quarter percentage point

during

the next few months.

The Land Registry survey is backward looking - analysing price

developments during the last quarter of 2005.

All snapshots of the housing market taken more recently suggest that

prices are currently recovering... (although there are regional

variations, the clear indications are that prices are going up again).

Regards,

Tim Weber

Business Editor

BBC News Interactive www.bbc.co.uk/business"

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Dear Frozen Out

I complained as well to the BBC re their one sided view on interest rates, and comment about house prices surging in light of the land registry report and I got this response.

"Surveys suggest that a clear majority of City analysts believes that

interest rates are likely to be cut by a quarter percentage point

during

the next few months.

The Land Registry survey is backward looking - analysing price

developments during the last quarter of 2005.

All snapshots of the housing market taken more recently suggest that

prices are currently recovering... (although there are regional

variations, the clear indications are that prices are going up again).

Regards,

Tim Weber

Business Editor

BBC News Interactive www.bbc.co.uk/business"

If thats what they think then why did one of their reporters on 24 Hour news this morning say that analysts were expecting the future direction for interest rates to be upwards.He was talking about mid 2006 i think.

I thought i was hearing things but thats what he said!

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All snapshots of the housing market taken more recently suggest that prices are currently recovering

In that case, why would the BoE cut rates? Rising house prices are far more likely to lead to increasing rates.

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In that case, why would the BoE cut rates? Rising house prices are far more likely to lead to increasing rates.

Although it didn't between 2001 and 2003.

I think the best argument that rates are not heading down is that the rest of the world seem to be raising theirs in the face of rising energy costs. It doesn't mean we will raise ours of cause, but I think reporting it as "a cut deferred" is just ridiculous.

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The shouting for lower interest rates all seems to be coming from uk retailers and manufacturers "struggling" because the rates are Soooo High. These are the same companies that seemed to be doing rather well a few years ago when interest rates were 8% plus.

The reality is so many people are in debt because of the low rates that people have stopped buying. UK companies need to take a long look at the situation, realise that the last couple of years were the "Golden Age" of retail, and that figures are going to revert back to the historic norm. You can't just pat yourself on the back for a good year and then expect to do 105% of last years target permanently.

Sensible companies are already starting to realise they aren't going to have it this easy again for a long time, cut staff and prepare for smaller sales figures for the next few years and not whinging about cuts in interest rates so they can hit their million pound bonuses at Christmas and buy another new Ferrari. (or overpriced London Pad)

It's going to take a while for this debt to clear through the system.

Why do people think that when we followed the Global trend Downwards in interest rates (and upwards in house prices), that we can somehow "opt out" of Global interest rate increases and the following House Price reductions, because we don't like it?

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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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