Thursday, November 1, 2007

Rate changes happen more in November – up or down

November the most popular month for the MPC to make interest rate change

Legal & General has revealed that more base interest rate changes have happened in November than in any other month. During the Monetary Policy Committee's (MPC's) ten year reign over interest rates, November is the month where the largest proportion of rate changes have taken place. While this is likely to be a result of the fast-approaching year end it points to the fact that the much speculated November rate cut could well be on the horizon.

Posted by converted lurker @ 11:02 AM (818 views)
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9 thoughts on “Rate changes happen more in November – up or down

  • Not likely with oil at $96 a barrel and fuel costs in China rising 10%. Unless the MPC really wants to burn bridges to save their second home investment values!

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  • tyrellcorporation says:

    ‘Legal & General has revealed that more base interest rate changes have happened in November than in any other month’

    …Whilst Googling around on the web they also found out that more Arctic Rolls are consumed by Scots in April than in any other month!

    I think the guys at Legal & General need to focus on doing some proper work – I guess they might be winding down for Christmas already. Mouse Trap anyone?

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  • converted lurker says:

    how’s about a nice 0.5% rise, hardly gonna curb the Xmas madness is it ? =;¬)

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  • It would make life very interesting if rates were cut, with CPI at 1.8% and the US to cut their rates it isn’t entirely impossible.

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  • It would make life very interesting if rates were cut, with CPI at 1.8% and the US to cut their rates it isn’t entirely impossible.

    Why would that be “interesting” ? Do you find rampant inflation somehow stimulating ?

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  • tyrellcorporation says:

    What do you mean by interesting David? Please expand?

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  • eyeoftheweasel says:

    As discussed elsewhere though, CPI is set to rise considerably next year.

    That’s ignoring the fact that CPI is a completely inadequate method of measuring inflation; the government just like it as at present it makes inflation look lower than it actually is. Maybe next year the government will start using house prices as their preferred method of measuring inflation?

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  • What a non-story this is!

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  • Oil has gone up, food prices have gone up BUT the CPI has dropped to 1.8%, so it is quite possible the BoE could cut.

    Interesting how the government bases the student loan rate on RPI though isn’t it.

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