Monday, October 6, 2008

Slashing rates won’t do any good

Interest rates may be slashed - but it won't do any good

Amid the panic, emergency interest rate cuts have been conspicuous by their absence. That could be about to change. But a massive cut will only confirm what a complete mess the economy’s really in...

Posted by damien @ 11:25 AM (826 views)
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7 thoughts on “Slashing rates won’t do any good

  • All this ‘liquidity’ pumped in and the benefit of any IR cuts will not find their way into the pockets of the man on the street. It will keep the banks going and make sure that bonuses are able to be paid.

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  • Bye, Bye GBP if they cut interest rates…

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  • japanese uncle says:

    Cut the base rate and keep writing to the Chancellor each and every month. It may be a good idea to devise a template/model letter only the date changeable.

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  • I’m now hearing of discussions taking place where 1% cut by MPC on Thurday would come as no surprise to the City. Personally I think we will get a get a cut but max 0.5% (0.25% under Mr King’s influence seems more likely IMO)

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  • mark wadsworth says:

    Cutting interest rates is just pushing a piece of string. It’s one of the options in my fun on line poll, and has got nil out of 60 votes so far.

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  • it_is_going_with_a_bang says:

    A cut in interest rates? That trick has already been played and it didn’t exactly work out very well did it?
    It is also very misleading for anyone borrowing money. No doubt the line “it’s never been more affordable” can be used by Gordon Brown once again – or so he hopes.
    How sad to see a whole economy collapsing just because property cannot be used as the bank of never never.

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  • Guy’s, I agree with your comments above but sweeping all of that to oneside the MPC will decide the rate and my money is on a cut.

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