Wednesday, September 5, 2007
What a remarkable coincidence ?
Rate Hikes Hit Consumer Confidence
"The research comes as the Bank of England's Monetary Policy Committee begins its two-day interest rate setting meeting. "The fall in each of the consumer confidence indices is not surprising given the five increases in interest rates in just a year," said Nationwide's Fionnuala Earley." Of course Nationwide has no vested interest to keep the BoE rate below 6%.
Posted by doomwatch @ 03:59 PM (715 views)
2 thoughts on “What a remarkable coincidence ?”
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Alan says:
The fed will come to the “rescue” by cutting interest rates.
Soon, US buyer confidence will be “up”. So, the asset bubble in the USA will inflate again.
If this happens, the BoE will be forced to drop rates in October, or risk a silly exchange rate.
If IRs drop in the UK, then a House Price correction could be delayed, however when the correction finally arrives it will be a crash.
planning4acrash says:
It will be a collapse.
What I understand is, that the banks have lost control and libor rates will take over. As lending restrictions get higher, and panick continues, fixed rates will not be availale for sub-prime, BTL and inbetween, so they will have libor rate influenced standard variable rates. Dropping rates could have the unexpected result of increasing libor rates? Or am I making that up?!