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Emergency Interest Rate Cut Announced (from All Major Central Banks)


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wow the DOW will recover yesterdays losses...FTSE 100 in positive territory. Good decsion for the wider economy/business in general if the cuts are passed on.

Since the government now own a portion of most major banks, I think they will be applying quite a bit of pressure to ensure some, if not all, of the cut is passed on.

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"In the light of that outlook, the Committee judged at its October meeting that an immediate reduction in Bank Rate of 0.5 percentage points to 4.5% was necessary to meet the 2% target for CPI inflation in the medium term."

Ha ha. I've never heard such a crock of cr*p in my life.

So CPI is above target but they must cut by 0.5% to meet the 2% target in the medium term. Brilliant.

This is to try and avert inflation in negative territory. So in a sense the statement makes sense.

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At the risk of going against the prevailing "bring on the apocalypse" mood of HPC, this rate cut is probably a good move. Remember, six months or so ago, the annual rate of house price inflation was positive, whilst the reality was anything but.

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At the risk of going against the prevailing "bring on the apocalypse" mood of HPC, this rate cut is probably a good move. Remember, six months or so ago, the annual rate of house price inflation was positive, whilst the reality was anything but.

It's only good news if repayment of debt increases.

If this doesn't happen it solves nothing.

Panic across the central bankers.

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Damnit, I should have bought an expensive house and let inflation eat the debt away :(

My plans foiled by the establishment, again! f***ers!

Not necessarily. It's wage inflation that counts where debt is concerned - not inflation in general. Hands up anyone who thinks their salary is going to increase massively over the next few years.

....Anyone?

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I must be looking at the wrong graph as it shot down on mine.

Oh yeah. It was me looking at the wrong graph.

:lol:

Remind me never to comment on short term price movements anyway - I keep telling other people off for doing it, be it on gold or shares.

Long term trend is what matters.

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Oh yeah. It was me looking at the wrong graph.

:lol:

Remind me never to comment on short term price movements anyway - I keep telling other people off for doing it, be it on gold or shares.

Long term trend is what matters.

Hehe.

Seems like the FTSE shot up along with DOW and its now on its way back DOOOOOOOOOOOOOWNNN...

Who was that guy who tried to stop the tide coming in ?

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