nohpc Posted February 7, 2008 Share Posted February 7, 2008 woo hoo another 60 quid a month off my mortgage Quote Link to comment Share on other sites More sharing options...
starsign Posted February 7, 2008 Share Posted February 7, 2008 good discussion on the Daily Politics...head of London School of Economics suggests this is a sign that BoE is extremely worried about recession, he himself feels recession is a large risk. Also talked about whether the rate cut will be passed on, view was that some will, some won't, banks need to strengthen their balance sheets. Quote Link to comment Share on other sites More sharing options...
Laura Posted February 7, 2008 Share Posted February 7, 2008 Against that background, the Committee judged that a reduction in Bank Rate of 0.25 percentage points to 5.25% was necessary to meet the 2% target for CPI inflation in the medium term. It's gobbledegook time again Quote Link to comment Share on other sites More sharing options...
It is different this time Posted February 7, 2008 Share Posted February 7, 2008 The Bank of England's answer: YES SIR Corrupt muppets! Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted February 7, 2008 Share Posted February 7, 2008 Savers lose out again. Get spending you stingy lot! Quote Link to comment Share on other sites More sharing options...
Bug16 Posted February 7, 2008 Author Share Posted February 7, 2008 Be honest:a) Did you have this post typed out, just ready to hit 'submit'? Do you get some kick out of posting first? LOL! I was actually tempted to have one set and ready but I have to be honest and say that I didn't. As for the "kick", hey I'm bored today and this is about as exciting as my Thursday will get! Quote Link to comment Share on other sites More sharing options...
Bearfacts Posted February 7, 2008 Share Posted February 7, 2008 (edited) What a bunch of BANKERS ! Edited February 7, 2008 by Bearfacts Quote Link to comment Share on other sites More sharing options...
jp1 Posted February 7, 2008 Share Posted February 7, 2008 woo hoo another 60 quid a month off my mortgage Lucky you! So you must be one of the few with a tracker mortgage. Most peoples mortgages will be either unaffected or rise in the next few weeks as banks rebuild their margins Quote Link to comment Share on other sites More sharing options...
Bug16 Posted February 7, 2008 Author Share Posted February 7, 2008 woo hoo another 60 quid a month off my mortgage Which one would that be? Quote Link to comment Share on other sites More sharing options...
insidetrack Posted February 7, 2008 Share Posted February 7, 2008 They are saying that the cut was necessary to control the inflation?! FTW! That's exactly what they are saying. They think things look so bad for the economy that we are heading into recession which could lead to deflation down the line. Hence the rate cut. Sounds pretty bad too me! Quote Link to comment Share on other sites More sharing options...
Marcos Scriven Posted February 7, 2008 Share Posted February 7, 2008 Can I ask a dumb question (probably the only kind I ask): Why do they publish the minutes two weeks later? Surely it can't take 10 working days to write-up? Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted February 7, 2008 Share Posted February 7, 2008 Losing its purchasing power this very moment! Quote Link to comment Share on other sites More sharing options...
stonethecrows Posted February 7, 2008 Share Posted February 7, 2008 (edited) I was first! Go me! In all seriousness it feels a lot like a political move. I.e. with the US cutting the UK couldn't also not cut, even though I expected them to sit on their hands for another month. DAMN you bug16 Congrats-you type like less of a sp@z than me, well done Ah well I've said it before n I'll say it again-it makes no difference, we're scr£wed regardless! Edit: Ps, they won't stop deflation now however they mash up sterling-just ain't gonna happen ppl Edited February 7, 2008 by stonethecrows Quote Link to comment Share on other sites More sharing options...
A.steve Posted February 7, 2008 Share Posted February 7, 2008 It's gobbledegook time again Not really, they're calling "Stagnation-deflation" in the near future. Quote Link to comment Share on other sites More sharing options...
Bug16 Posted February 7, 2008 Author Share Posted February 7, 2008 (edited) DAMN you bug16 Congrats-you type like less of a sp@z than me, well done I actually type at over 90wpm with 100% accuracy. Yes, I am this sad. Oh dear FTSE continues to go south. Edited February 7, 2008 by Bug16 Quote Link to comment Share on other sites More sharing options...
Laura Posted February 7, 2008 Share Posted February 7, 2008 Savers lose out again.Get spending you stingy lot! I will; just tell me what is worth buying????? .... Please Quote Link to comment Share on other sites More sharing options...
Minos Posted February 7, 2008 Share Posted February 7, 2008 Where's Charlie. He assured me they wouldn't cut. He's seen it all before. Quote Link to comment Share on other sites More sharing options...
Levy process Posted February 7, 2008 Share Posted February 7, 2008 woo hoo another 60 quid a month off my mortgage What, has the cut been passed on this time? Quote Link to comment Share on other sites More sharing options...
wren Posted February 7, 2008 Share Posted February 7, 2008 It's gobbledegook time again I know it looks strange but they may have a reason. Notice it says "medium term". Interest changes take many months to take effect. I think they have an idea that 12 months and more out, other factors may tend to reduce inflation, and they aim to counter that. I'm not saying they are right but that could be the plan. Quote Link to comment Share on other sites More sharing options...
Laura Posted February 7, 2008 Share Posted February 7, 2008 Not really, they're calling "Stagnation-deflation" in the near future. Thank you waiter I'll take the second, but I don't fancy the first. OK? Quote Link to comment Share on other sites More sharing options...
starsign Posted February 7, 2008 Share Posted February 7, 2008 The Bank of England's answer: YES SIR Corrupt muppets! erm...just cos they cut doesn't mean they did it because of the press. Quote Link to comment Share on other sites More sharing options...
stonethecrows Posted February 7, 2008 Share Posted February 7, 2008 Where's Charlie. He assured me they wouldn't cut. He's seen it all before. To be fair I thought they would hold at the least and poss even a rise-and unlike some yes he has seen a bl00dy sight more than some of the m0rons so keen to stick the boot in on someone a lot older and wiser than them. Have some respect for your elders clown! Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted February 7, 2008 Share Posted February 7, 2008 (edited) I take the MPC's statement as saying "that's your lot" and the markets have reacted badly because they were hoping to see some sign that there was more to come. IMHO the important phrase in the press release is: Given this outlook for inflation, some slowing of demand growth, by reducing the pressure on capacity, is likely to be necessary to return inflation to target in the medium term. In other words, the MPC wants growth to slow. Edited February 7, 2008 by Tuffers Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted February 7, 2008 Share Posted February 7, 2008 They are saying that the cut was necessary to control the inflation?! FTW! O'Brien: Winston, how many fingers am I holding up? Winston: Four. O'Brien: No Winston, I am holding up two fingers. There are two fingers because the party says that there are two fingers, because Big Brother wishes to send a big FU to all those savers in Oceania. Quote Link to comment Share on other sites More sharing options...
A.steve Posted February 7, 2008 Share Posted February 7, 2008 Can I ask a dumb question (probably the only kind I ask):Why do they publish the minutes two weeks later? Surely it can't take 10 working days to write-up? If I were in their position, I'd take a fortnight to approve the minutes... it would allow for shifts of emphasis if something unexpected transpired from the cut. The minutes only expose a very brief summary of the meeting... if they wanted absolute transparency, they'd have a live cam feed... they don't. The point of the minutes is to reassure people after the event and to condition expectations for the next move. Quote Link to comment Share on other sites More sharing options...
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