Thursday, January 3, 2008

What is the Bank of England for if it will not defend our currency?

Rate cut pressure builds as Bank fears defaults

At the moment, there are three comments on this article and they are all very much against rate cuts. That is the only good news I can see in this article.

Posted by quiet guy @ 05:39 PM (601 views)
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4 thoughts on “What is the Bank of England for if it will not defend our currency?

  • Maybe Siobhan Kennedy has a lot of friends with BTL properties where the “interest only” deal is about to expire.

    You can be assured that the BTL brigade are not happy chappies right now and are exerting any leverage they can to keep their paper profits.

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  • keep posting the alternate view

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  • it_is_going_with_a_bang says:

    I don’t really see the point in cutting rates to boost spending. That is exactly what has just happened over the last few years. What did it do?
    Create a huge debt and a huge problem.

    So cutting rates to by 0.5% so that they can go back up again and stuff the people who got a ‘great deal’ on low rates.
    Is it not about time this ‘miselling’ of credit and borrowing is stopped.

    You simply cannot protect unrealistic house prices with unrealistic rates.

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  • “You simply cannot protect unrealistic house prices with unrealistic rates.”

    I completely agree but I’ve a suspicion that they will do it anyway. Short term gains always seem to beat the national interest.

    BTW, there are now 17 comments on the Times article against a rate cut and 1 for a rate cut (and that might be a troll).

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