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Converted Lurker

Cml Comments On Rate Rise

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05 Aug 08 :unsure:

The Council of Mortgage Lenders today said it was unsurprised by the quarter-point rise in interest rates announced by the Bank of England's Monetary Policy Committee. The current range of data in the housing market shows a mixed picture, but the CML continues to expect a slower market as the year progresses.

CML Director General Michael Coogan commented:

"The Monetary Policy Committee members have recently made a point of emphasising that it is not in the business of "clobbering consumers". Equally, we all recognise that it needs to address inflationary pressures as it sees them. So the rate rise is no surprise.

"We continue to think there will be further rate rises to come, and that consumers should organise their finances to be able to cope with them. But we do not expect that the housing market will still be regarded as a significant inflationary pressure looking ahead into 2005. Nor do we expect that there will be a significant worsening in arrears and possessions figures in 2005 with the benign economic backdrop."

http://www.cml.org.uk/cml/media/press/514

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Whoops... looks like someone's pressed the "publish" button a bit early. Nice to see they've actually prepared one for that possibility as well, although I suspect they'll have to use their "welcomes the MPCs decision to hold" story instead.

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05 Aug 08 :unsure:

The Council of Mortgage Lenders today said it was unsurprised by the quarter-point rise in interest rates announced by the Bank of England's Monetary Policy Committee. The current range of data in the housing market shows a mixed picture, but the CML continues to expect a slower market as the year progresses.

CML Director General Michael Coogan commented:

"The Monetary Policy Committee members have recently made a point of emphasising that it is not in the business of "clobbering consumers". Equally, we all recognise that it needs to address inflationary pressures as it sees them. So the rate rise is no surprise.

"We continue to think there will be further rate rises to come, and that consumers should organise their finances to be able to cope with them. But we do not expect that the housing market will still be regarded as a significant inflationary pressure looking ahead into 2005. Nor do we expect that there will be a significant worsening in arrears and possessions figures in 2005 with the benign economic backdrop."

http://www.cml.org.uk/cml/media/press/514

Someone care to elaborate? Today is tuesday isnt it? Not thursday? Did i really drink so much on saturday night that i was passed out for 2 days? Or did the BoE forget an "embargoed until" on their press release?

Edit: Page no longer available! Me thinks CML forgot an embargoed. Looks like a 1/4 point rise on Thursday! Get your bets on now!

Edited by angrypirate

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hehe funny.... its like building 10, oh the link has disappeared ;p

Perhaps the CML take old press releases, modify them to suit and then publish them? someone accidentally pressed the publish button?

Edited by moosetea

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  • 401 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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