TheCountOfNowhere Posted August 24, 2022 Share Posted August 24, 2022 Quote Link to comment Share on other sites More sharing options...
blind_canary Posted August 24, 2022 Share Posted August 24, 2022 How many times can they lose credibility? Quote Link to comment Share on other sites More sharing options...
Huggy Posted August 24, 2022 Share Posted August 24, 2022 (edited) 2 minutes ago, blind_canary said: How many times can they lose credibility? According to the graph, around 80 times. Edited August 24, 2022 by Huggy Quote Link to comment Share on other sites More sharing options...
Warlord Posted August 24, 2022 Share Posted August 24, 2022 I am looking to do a transaction in USD and it dawned me that the £ is now WORTHLESS!  It might as well be parity with the dollar (I know this has its own thread but.. ). It's tragic and borderline criminal what they have done and are doing @TheCountOfNowhereby the way, rates are no where near ahead of the curve so expect things to get worse until these b@stards act.  Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 24, 2022 Author Share Posted August 24, 2022 15 minutes ago, blind_canary said: How many times can they lose credibility? Once. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted August 24, 2022 Share Posted August 24, 2022 Feckless debtors are the cannon fodder. It's on it's way whether the useless BOD wants it or not. Quote Link to comment Share on other sites More sharing options...
blind_canary Posted August 24, 2022 Share Posted August 24, 2022 I have a feeling we might be in for a shock next meeting... I'm thinking 75 or even 100 bps. Which to be honest is the absolute minimum we need to see. How heads at BoE haven't rolled I don't know Quote Link to comment Share on other sites More sharing options...
scottbeard Posted August 24, 2022 Share Posted August 24, 2022 9 minutes ago, blind_canary said: I have a feeling we might be in for a shock next meeting... I'm thinking 75 or even 100 bps. Which to be honest is the absolute minimum we need to see. How heads at BoE haven't rolled I don't know I can't see the next rise being more than another 0.5% myself. It might even be only 0.25% to take it to a nice round 2%. Quote Link to comment Share on other sites More sharing options...
longgone Posted August 24, 2022 Share Posted August 24, 2022 May as well whack it up 2.25 in one go. Quote Link to comment Share on other sites More sharing options...
cnick Posted August 24, 2022 Share Posted August 24, 2022 28 minutes ago, blind_canary said: I have a feeling we might be in for a shock next meeting... I'm thinking 75 or even 100 bps. Which to be honest is the absolute minimum we need to see. How heads at BoE haven't rolled I don't know .... because they were only following orders? Quote Link to comment Share on other sites More sharing options...
Warlord Posted August 24, 2022 Share Posted August 24, 2022 32 minutes ago, scottbeard said: I can't see the next rise being more than another 0.5% myself. It might even be only 0.25% to take it to a nice round 2%. Do you think this will tame inflation? Quote Link to comment Share on other sites More sharing options...
BaldED Posted August 24, 2022 Share Posted August 24, 2022 8 minutes ago, Warlord said: Do you think this will tame inflation? Course it won't they haven't been wanting to tame inflation. Token gestures to make it look like they are doing something, and come out talking ******** at the same time. Creating the illusion they they think will make everyone go 'hey nothing to worry about here'. Sadly 95% of the british public are as thick as shit and so fall for it. Quote Link to comment Share on other sites More sharing options...
henry the king Posted August 24, 2022 Share Posted August 24, 2022 (edited) 1 hour ago, blind_canary said: I have a feeling we might be in for a shock next meeting... I'm thinking 75 or even 100 bps. Which to be honest is the absolute minimum we need to see. How heads at BoE haven't rolled I don't know They will go 0.5%. They should go 0.75% to shock people into submission, but they won't. 0.5% seems locked in though to me. Wage growth is too high for 0.25%. They are genuinely scared of a spiral now. Inflation is broad too. So 0.5% because 0.75% would take too much bravery. Not Bailey's strong suit. But now Bailey is worried about a spiral occurring on his watch, which would ruin his legacy. So self interest will dictate 0.5% Edited August 24, 2022 by henry the king Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted August 24, 2022 Share Posted August 24, 2022 6 minutes ago, BaldED said: Course it won't they haven't been wanting to tame inflation. Token gestures to make it look like they are doing something, and come out talking ******** at the same time. Creating the illusion they they think will make everyone go 'hey nothing to worry about here'. Sadly 95% of the british public are as thick as shit and so fall for it. Yes and at least 50% of the population are feckless debtors. Quote Link to comment Share on other sites More sharing options...
fellow Posted August 24, 2022 Share Posted August 24, 2022 2 hours ago, TheCountOfNowhere said: Once. But how can they lose something they never had? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 24, 2022 Author Share Posted August 24, 2022 18 minutes ago, fellow said: But how can they lose something they never had? They had it amongst the money men, when the had their backs. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 24, 2022 Share Posted August 24, 2022 1 hour ago, henry the king said: They will go 0.5%. They should go 0.75% to shock people into submission, but they won't. 0.5% seems locked in though to me. Wage growth is too high for 0.25%. They are genuinely scared of a spiral now. Inflation is broad too. So 0.5% because 0.75% would take too much bravery. Not Bailey's strong suit. But now Bailey is worried about a spiral occurring on his watch, which would ruin his legacy. So self interest will dictate 0.5% I think you should stop predicting MPC decisions please. I'm worried the Gods are listening. You'll put a scud on it and they'll drop them a percentage point. Or better still, pretend to think the MPC are going to hold. Quote Link to comment Share on other sites More sharing options...
TerryBoi Posted August 24, 2022 Share Posted August 24, 2022 Looks like it, doesn't it. But I don't think that Sterling goes down the "lou" as you'd say over there without a real hard fight. People said GBP was finished when the UK crashed out the ERM in 1992. They also said it was done when the UK crashed out the EU in 2017. Just a couple of years back it was about to collapse due to COVID in 2020. But here we are, 2022 and its still got its head above parity. Maybe its just the pepperoni I had last night, but I've got this weird feeling that any day now Bailey's gonna come out roaring like a lion with a Bomber Harris style campaign to decimate all the cable shorts. Perhaps an emergency statement and 2% rise would do it. Or something even more ... These things have a habit of appearing when you least expect it. Quote Link to comment Share on other sites More sharing options...
simon99 Posted August 24, 2022 Share Posted August 24, 2022 1 minute ago, TerryBoi said: Looks like it, doesn't it. But I don't think that Sterling goes down the "lou" as you'd say over there without a real hard fight. People said GBP was finished when the UK crashed out the ERM in 1992. They also said it was done when the UK crashed out the EU in 2017. Just a couple of years back it was about to collapse due to COVID in 2020. But here we are, 2022 and its still got its head above parity. Maybe its just the pepperoni I had last night, but I've got this weird feeling that any day now Bailey's gonna come out roaring like a lion with a Bomber Harris style campaign to decimate all the cable shorts. Perhaps an emergency statement and 2% rise would do it. Or something even more ... These things have a habit of appearing when you least expect it. Yep, and the Euro is now .99 to the Dollar. Quote Link to comment Share on other sites More sharing options...
TerryBoi Posted August 24, 2022 Share Posted August 24, 2022 2 hours ago, blind_canary said: I have a feeling we might be in for a shock next meeting... I'm thinking 75 or even 100 bps. Which to be honest is the absolute minimum we need to see. How heads at BoE haven't rolled I don't know Credibility is dependent on how willing you are to wield your power. To get that back you need to demonstrate something quite extreme. That puts the market on edge ... so you can get stuff done without actually doing stuff. Powell is doing stuff, but he doesn't have the edge (yet, anyway). Bailey has no edge and is not doing anything. For Bailey to get the full credibility back he'll need to do something shock and awe. Quote Link to comment Share on other sites More sharing options...
Warlord Posted August 24, 2022 Share Posted August 24, 2022 1 hour ago, TerryBoi said: Looks like it, doesn't it. But I don't think that Sterling goes down the "lou" as you'd say over there without a real hard fight. People said GBP was finished when the UK crashed out the ERM in 1992. They also said it was done when the UK crashed out the EU in 2017. Just a couple of years back it was about to collapse due to COVID in 2020. But here we are, 2022 and its still got its head above parity. Maybe its just the pepperoni I had last night, but I've got this weird feeling that any day now Bailey's gonna come out roaring like a lion with a Bomber Harris style campaign to decimate all the cable shorts. Perhaps an emergency statement and 2% rise would do it. Or something even more ... These things have a habit of appearing when you least expect it. Our currency is going down the toilet. Its about parity with the dollar now (or might as well be) They're trashing the £ and it will continue to slide Quote Link to comment Share on other sites More sharing options...
PrincessNutNut Posted August 24, 2022 Share Posted August 24, 2022 2 hours ago, henry the king said: They should go 0.75% to shock people into submission, but they won't. They should increase the rate to the point that inflation is reducing, until it hits around 2% y/y - that's their job. And they should do it expeditiously. Imagine getting paid half a million a year, your only job is to make sure the bath tub doesn't flow over, and the house is suffering water damage because you were too [bleep] to turn off the tap. Â Â Quote Link to comment Share on other sites More sharing options...
nero120 Posted August 24, 2022 Share Posted August 24, 2022 Loving how the HPI crowd think that house prices can't crash, it will take years for prices to come down, yet here we see bond prices crashing in the space of six months. If this trend continues (and there's no reason to expect it won't) yields will be at 6%+ in another six months. Property prices are crashing globally and the debt-tards think our tin-pot government can print more worthless funny money to keep the bubble going. Not a chance! Quote Link to comment Share on other sites More sharing options...
FallingAwake Posted August 24, 2022 Share Posted August 24, 2022 2 minutes ago, PrincessNutNut said: They should increase the rate to the point that inflation is reducing, until it hits around 2% y/y - that's their job. And they should do it expeditiously. Imagine getting paid half a million a year, your only job is to make sure the bath tub doesn't flow over, and the house is suffering water damage because you were too [bleep] to turn off the tap. Â Â And you have to write a grovelling letter to the landlord every month, explaining why you didn't turn the tap off. Still, for half a million a year, where do I apply? Quote Link to comment Share on other sites More sharing options...
PrincessNutNut Posted August 24, 2022 Share Posted August 24, 2022 4 minutes ago, FallingAwake said: And you have to write a grovelling letter to the landlord every month, explaining why you didn't turn the tap off. Unfortunately the landlord in this situation (like many real ones) seems to be unable to read. 7 minutes ago, FallingAwake said: Still, for half a million a year, where do I apply? https://bankofengland.taleo.net/careersection/boe_ex_experienced_hire/jobsearch.ftl?lang=en You may want to start buttering up whoever you believe to be the political power making the appointment when the time comes. (So much for independence...) Quote Link to comment Share on other sites More sharing options...
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