Thursday, November 8, 2007

This should put rates on hold

Average petrol cost at £1 a litre

And remember, crack spreads are yet to catch up with eye watering oil prices, which see's no abating. I still think that when rates move next, they will move up.

Posted by planning4acrash @ 12:27 AM (1253 views)
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14 thoughts on “This should put rates on hold

  • “I still think that when rates move next, they will move up.”

    Despite the Fed’s lunacy regarding their recent cut, I think you might be right about the BoE.

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  • …but not at today’s meeting, at which rates will be held (unless, that is, stocks really crash).

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  • planning4acrash says:

    Hi Harold, that was kindof what I thought. Hold today, probably hold till Christmas, but I’ve got a sneaking suspicion that inflation will be up January along with rates. We shall see!

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  • Evan Davies says today on the today programme, that rates are likely to be held (4/1 against a reduction).

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  • My wife commented this morning that bread is £1.20. I wonder how much longer the economy can go on before something happens? The householder is getting hit from all angles rates, food, fuel, energy and the cost of borrowing. But still the agents continue to value houses as if everything is rosey? I received a sales flyer yesterday from a local agent and it was beyond belief, you would think it’s still boom time.

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  • I think the question is how long Gordon and Alistair can get away with telling the ONS to massage the inflation stats. Headlines like these certainly don’t help keep inflation expectation down.

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  • And one can’t get Gordo out for another two or possibly even three years….

    Still it could have been worse, he may have scuttled earlier and won… We could have been looking at another five years which is an absolute lifetime of incompetence…

    Watch Swervyn Mervyn sacked in the next 6 months as he refuses to sanction lower interest rates so that Crash can scuttle earlier than 2009…

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  • Trouble is some people are not prepared to see the reality of the situation. They are obsessed with owning a home. As long as the now tax payer funded banks are prepared to loan these idiots freshly printed money then the cycle will continue….

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  • I think we need to bring back the fuel protests…. I wasn’t in the country to last time they were going on, were they organized by an individual or by some sort of group? were they deemed illegal at the time? A call for civil disobediance is long overdue. This government really needs to wake up to that fact that they are taking us all down the wrong paths with their policies…!!!

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  • Wages are being held down, immigrants are flooding in.

    The deflationary forces of a housing/stocks bust will cancel out the inflationary forces of food/commodities.

    It is a lose-lose situation.
    Unlike the 1970s personal debt will not be eroded by wage inflation.
    We have a negative savings rate as we maintain our lifestyles by MEWing and increasing our debt.
    The K-winter is upon us.

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  • C'mon Correction says:

    I was amazed last week doing the weekly shop about how much food prices have gone up, my girlfriend commented without before me. A lot of items have gone up over 40+% ! I’ve noticed many prices seem to be higher AND you’re getting less in the pack, carton etc.

    I accept that deflation is likely to happen, but we’re not going to see it until after a HPC is in full swing. Until that time young people will be pushing for all their worth for pay rises – or at least they should be. Even rising unemployment won’t affect this.

    People need to live, need a place to live – house prices and rent prices are too high and that is the biggest cost to anyone.

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  • Good spot C’mon… I work in the food industry and for the last two or three years have noticed a huge number of my customers ‘resizing’ their packaging to make portion sizes ‘healthier’… Yeah, healthier for their bottom lines….!!!

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  • US market opens at 14:30 GMT right?

    Predictions anyone?

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