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Boe August Meeting ~ No Change

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Pussies, what's their mandate again? :unsure:

so thats what the P stands for in MPC?

Edited by IDN

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Pussies, what's their mandate again? :unsure:

Their mandate says raise rates.

They want to lower rates.

Hence, no change.

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Thank goodness for that - rates do not need to go up to help the crash along.

The economy needs lower rates, house prices will fall regardless of interest rates now. The easy credit days have passed.

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Too embarrassed to add any extra comments on their release as they have sometimes done.Heading for 5%CPI and 150% off target is beyond explanation,and has followed three years of running over what is supposed to be a central target.

Edited by crashmonitor

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For comparison:

http://www.telegraph.co.uk/news/worldnews/...p-to-800pc.html

Last Updated: 2:24AM BST 02 Oct 2007

Zimbabwe has raised interest rates from 650 per cent to 800 per cent, a stark illustration of the country falling further into economic crisis.

Even in the bizarre financial world created by President Robert Mugabe's policies, Osborne Gono, the central bank governor, admitted that he "never dreamt that we would get to these levels of inflation" but vowed to "not be deterred".

"The outlook in the short term is that our number one enemy [inflation] remains very angry and formidable," he added. The country has 6,600 per cent inflation.

The announcement came as Zimbabwe's teachers went on strike to demand a 500 per cent pay increase.

http://newzimbabwe.com/pages/INFLATION126.15907.HTML

Last updated: 07/18/2008 10:18:15

ZIMBABWE'S main lending rate would remain unchanged at 500% points, the country's central bank governor Osborne Gono said on Wednesday.

"The current accommodation rates of 500% for secured and 600% for unsecured lending ... these remain unchanged as they are aligned to the inflation outlook," Gono said during a monetary policy review.

The central bank last raised the rate by 200 percentage points to 500 percent on October 9.

Now that's an interest rate :)

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Now that's an interest rate :)

Yes, a massively negative one in real terms. No wonder inflation keep accelerating!

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This made me laugh...Coogan is such a goon.

http://www.home.co.uk/guides/news/story.ht...rates_held_at_5

CML director general, Michael Coogan said: “Holding the bank rate is better than raising rates but a reduction would have been a welcome recognition of the current financial strains on households already struggling with hikes in other living costs.

“As a result of recent Bank rate reductions, mortgage rates are below their peak at the end of 2007 but many consumers will be looking to the MPC to respond soon to the slowing economy and reducing inflationary pressures.”

What utter drivel the man spaketh.

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This made me laugh...Coogan is such a goon.

http://www.home.co.uk/guides/news/story.ht...rates_held_at_5

CML director general, Michael Coogan said: “Holding the bank rate is better than raising rates but a reduction would have been a welcome recognition of the current financial strains on households already struggling with hikes in other living costs.

“As a result of recent Bank rate reductions, mortgage rates are below their peak at the end of 2007 but many consumers will be looking to the MPC to respond soon to the slowing economy and reducing inflationary pressures.”

What utter drivel the man spaketh.

I raise you this EA from the BBC:

http://news.bbc.co.uk/1/hi/business/7544738.stm

"The issue is first-time buyers. It doesn't matter how much house prices are falling by, or how much the property is on the market for, if you can't get a mortgage."

LOWER THE PRICE AND THE MORTGAGE WILL BE SMALLER!

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My daughter's 12th birthday - Yay! :)

That makes you happy?

Say hello to puberty, raging hormones, mood swings and ........ boys with all those associated problems.

Good luck.! ;)

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That makes you happy?

Say hello to puberty, raging hormones, mood swings and ........ boys with all those associated problems.

Good luck.! ;)

The natural pessimism of a true hpc.co.uker shining through! :)

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  • 399 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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