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Earley Advisng Mpc

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Quote in the Times from Fionnuala Earley of Nationwide:

"Talk of interest rates climbing to 6% are overblown .. too sharp an increase could undermine market confidence"

A few points.

1. She clearly believes rates are set to maintain HPI which is odd becuase I though they were set to prevent general inflation. Yes thats right Fionnuala lets boll*x the whole economy, savers and the prudent to support the gains of speculators in the housing market - we already have .. oh dear !

2. She believes that a rise to the levels that many commentators are predicting withing the next 6 months will bring the market crashing down.

3. She obviously hasn't got a clue as she claimed rates had peaked at 5% then 5.25% ! IS she trying to influence the MPC ?!

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The imbalances in the system are laughable.

How dare a company spokesperson speak as if she represents the best interests of the country rather than from her own narrow self-interest.

The MPC/financial system should have turned around to her a long time ago and said that excessive lending and high prices would eventually be the thing to "undermine market confidence."

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3. She obviously hasn't got a clue as she claimed rates had peaked at 5% then 5.25% ! IS she trying to influence the MPC ?!

Unfortunately neither has the MPC.Merv,brimming with arrogance,and irritated by the economic zealots that claimed CPI was out of control( since it questioned the MPC's devine judgement),proclaimed that interest rates had probably peaked at 5.0% back in November.Trouble is the zealots were right.

Edited by crashmonitor

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The imbalances in the system are laughable.

How dare a company spokesperson speak as if she represents the best interests of the country rather than from her own narrow self-interest.

The MPC/financial system should have turned around to her a long time ago and said that excessive lending and high prices would eventually be the thing to "undermine market confidence."

well said

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I would like to hear Merv make a speech directed at these vested interests stating that the MPC will not be influenced by their whining!

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Again, we live in the shadow of August 2005, the MPC appear to be an easily influenced soft touch so people try it on.

Nobody would have tried this sort of thing with the mighty Bundesbank, if vested interests persisted the bank used to actually bitchslap them with the opposite outcome.

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I'd take no notice of her. Have a look. She doesn't have a gap between her two front teeth, which indicates she won't be rich. That really is my level of financial savvy...

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2. She believes that a rise to the levels that many commentators are predicting withing the next 6 months will bring the market crashing down.

What really goads me is that she says how "delicate" the market is to the people setting the rates but how "buoyant" and "underpinned by sound fundamentals" to the saps buying the houses, yet is still allowed to voice opinions with some sort of air of credibility.

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I'd take no notice of her. Have a look. She doesn't have a gap between her two front teeth, which indicates she won't be rich. That really is my level of financial savvy...

Your avatar, could I ask who this is?.

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Quote in the Times from Fionnuala Earley of Nationwide:

3. She obviously hasn't got a clue as she claimed rates had peaked at 5% then 5.25% ! IS she trying to influence the MPC ?!

She is trying to protect the level of her Christmas Bonus.

The FSA should be slapping Nationwide with a massive fine for this attempted intervention of self interest, which is not ‘fit for purpose’. This is 'cowboy' marketing.

Anyway…….she could have at least tried to balance her statement to say how good conditions are for savers as long as they spread their deposits. It is never a good time to have all the eggs in one basket.

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Interesting just how much submarine sub prime debt do nationwide have hidden under the mattress waiting to be stress tested by 6% or higher IR's.

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Yes, Fionnulalalalala.

Rates have peaked at 5%? - good call there love.

The raising of interest rates is about keeping the fiddled INFLATION figures under control.

This takes priority over any panic striken bleating from propaganda driven VIs.

The golden goose has flown the nest, the days of wine and roses and easy profits have departed.

Wake up and smell the maple nut crunch!

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Bloomberg last night had a senior analyst from deutsche bank speaking about the uk economy and the MPCs next decisions.

He cannot see rates going above 6% and the next rise he predicts to be around November

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Bloomberg last night had a senior analyst from deutsche bank speaking about the uk economy and the MPCs next decisions.

He cannot see rates going above 6% and the next rise he predicts to be around November

Deutsche Schmeutsche.

These guys were predicting a 20% fall in house prices a few years back.

Rule number 1 in economics: nobody can predict the future. If they get it right they were just lucky.

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