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Jason

Mpc Voted 8-1 To Hold

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Guest The_Oldie

Wasn't there an article (Guardian or Independent?), where the journalist said that she had it on good authority, from a reliable source, that the vote was 5 - 4 :lol:.

Edit: Here you go...... http://observer.guardian.co.uk/cash/story/0,,1707648,00.html

Interest rates might not have fallen last week, but Cash is reliably informed that four out of nine members of the Bank of England Monetary Policy Committee voted in favour of a cut.

http://www.housepricecrash.co.uk/forum/ind...+the+government

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Point 9:

US housing easing...

Low correlation between spending and HPIs - er, what? Come again?

Has the whole world gone mad?

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This is very significant IMO. We're over the worst now, interest rates have not budged and only one of the MPC members is currenly voting for a cut.

I can't see any reason that rates will possibly go down over the next six months.

IR futures up strongly on this news as it was unexpected. They had expected 7-2 with KB & SN both voting for a cut. Everything coming out of the MPC of late is more bullish that expected.

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Wasn't there an article (Guardian or Independent?), where the journalist said that she had it on good authority, from a reliable source, that the vote was 5 - 4 :lol:.

Edit: Here you go...... http://observer.guardian.co.uk/cash/story/0,,1707648,00.html

Good find Oldie !

Would you take financial advice from this journo and her "reliable" informants ? :lol: ..........

Rates must fall soon, so take out a tracker

Jill Insley

Sunday February 12, 2006

The Observer

Interest rates might not have fallen last week, but Cash is reliably informed that four out of nine members of the Bank of England Monetary Policy Committee voted in favour of a cut.............

Ms Insley is badly misinformed methinks :lol:

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Perhaps he's having problems selling his house! :rolleyes:

:lol::lol::lol::lol::lol::lol:

Here's the BBC's take:

http://news.bbc.co.uk/1/hi/business/4738870.stm

A revival in the housing market
and a stronger forecast for consumer spending (???) were behind the decision to hold rates.

Looks like the VIs shot themselves in the foot--they can thank Rightmove's BS for the decision! Any more BS and they will bring on the next IR hike! Go for it!

Edited by Realistbear

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Wasn't there an article (Guardian or Independent?), where the journalist said that she had it on good authority, from a reliable source, that the vote was 5 - 4 :lol:.

ABSOLUTELY. And I think that journalist should be hanging their head in shame.

For me, that claim to know the vote nearly in favour of a cut - was just part of the media's continuing attempt to big up cuts in Interest Rates.

Stupid journos.

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There is no end to Nickells stupidity!

And given that pipeline pressures were modest, it seemed likely that inflation would fall below target once the effects of higher energy prices had dropped out of the year-on-year calculations.

In the meantime every other central bank is worried about pent-up inflation.

I suppose upcoming increases in gas, electricity and council tax are 'modest'.

last month they were telling us the higher energy prices hadn't yet impacted on inflation, now Nickell is saying they will drop out - doesn't add up. Don't suppose he's received his energy bills yet. But he really does have an agenda for low interest rates.

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Good news that it wasn't a finely balanced descision.

I guess Merv and the professionals have a very fine balancing act to perform, not just with the economy, but also with the external members of the "independent" committee. Steady as she goes and try and keep everyone on board. I guess I have a bit more faith in the bank staffers than many around here.

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Bank split 8-1 on steady rates

22/02/2006 10:23

LONDON (Reuters) - The Bank of England’s Monetary Policy Committee was split 8-1 for the third month running in February as Stephen Nickell again stood alone in opposing a decision to keep interest rates at 4.5 percent.

Short sterling interest rate futures fell sharply while the pound gained a third of a cent on the dollar as minutes of the MPC’s Feb 8-9 meeting published on Wednesday dented expectations of further rate cuts because many traders had bet on a closer vote.

Most MPC members thought the near-term outlook for consumer spending was stronger than envisaged in November and there was concern that a repeat of August’s quarter-point cut would further stoke a recovering housing market.

"The minutes pour more cold water over the prospects for a near-term interest rate cut," said Howard Archer, economist at Global Insight.

Analysts in a poll last week had expected a 7-2 vote, with Kate Barker joining Nickell in wanting an immediate quarter-point cut.

http://www.tiscali.co.uk/news/newswire.php...y_template.html

Edited by karhu

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"The annual growth rate of the M4 monetary aggregate had increased to

12.6% in December, the highest rate since 1990."

12.6% ???? Are they taking the ****? How can the money supply be growing at that rate, yet inflation is only 1.9%!

Anyone else surprised by this?

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ABSOLUTELY. And I think that journalist should be hanging their head in shame.

For me, that claim to know the vote nearly in favour of a cut - was just part of the media's continuing attempt to big up cuts in Interest Rates.

Stupid journos.

If anyone wants to take this further, you can let the Guardian know exactly what you think of their reporting here :

Send your feedback on the issues we've covered - or the way in which we've covered them - to observer@guardianunlimited.co.uk

That's : observer@guardianunlimited.co.uk

I'd do it but I'm useless at writing letters.

Edited by HPCheese

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"The annual growth rate of the M4 monetary aggregate had increased to

12.6% in December, the highest rate since 1990."

12.6% ???? Are they taking the ****? How can the money supply be growing at that rate, yet inflation is only 1.9%!

Anyone else surprised by this?

Plenty of money to prop up the equity bubbles, but devaluing our take home pay. A bit frustrating.

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"The annual growth rate of the M4 monetary aggregate had increased to

12.6% in December, the highest rate since 1990."

12.6% ???? Are they taking the ****? How can the money supply be growing at that rate, yet inflation is only 1.9%!

Anyone else surprised by this?

If you believe CPI = Inflation then it is surprising.

See you on the barricades!

Edited by Sisyphus

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If anyone wants to take this further, you can let the Guardian know exactly what you think of their reporting here :

That's : observer@guardianunlimited.co.uk

I'd do it but I'm useless at writing letters.

Nice one. I will be firing off a mail now. Anyone got a mail address for the press complaints commision too so I can cc it and send them one seperately?

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Nice one. I will be firing off a mail now. Anyone got a mail address for the press complaints commision too so I can cc it and send them one seperately?

FYI:

complaints@pcc.org.uk

1 Salisbury Square

London

EC4Y 8JB

Edited by karhu

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"The annual growth rate of the M4 monetary aggregate had increased to

12.6% in December, the highest rate since 1990."

12.6% ???? Are they taking the ****? How can the money supply be growing at that rate, yet inflation is only 1.9%!

Anyone else surprised by this?

There's more money?

Oh, must be good.

<_<

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Guest The_Oldie

ABSOLUTELY. And I think that journalist should be hanging their head in shame.

For me, that claim to know the vote nearly in favour of a cut - was just part of the media's continuing attempt to big up cuts in Interest Rates.

Stupid journos.

It begs the question "How many people were persuaded to take out a tracker and buy as a result of this authoritative article". Probably be a couple at least.

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:lol::lol::lol::lol::lol::lol:

Here's the BBC's take:

http://news.bbc.co.uk/1/hi/business/4738870.stm

A revival in the housing market
and a stronger forecast for consumer spending (???) were behind the decision to hold rates.

Isn't this reasoned link to the rate hold by definition patent nonsense? i.e. The BOE are not charged with looking after housing market or the retail sector..only inflation. Please correct me if l'm wrong!

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"The annual growth rate of the M4 monetary aggregate had increased to

12.6% in December, the highest rate since 1990."

12.6% ???? Are they taking the ****? How can the money supply be growing at that rate, yet inflation is only 1.9%!

Anyone else surprised by this?

All that extra money and yet nobody seems to be spending it? That's a clear signal, sentiment is changing. People are tightening their belts.

Edited by bandylegs

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  • 337 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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