Thursday, July 5, 2012

Another brick in the wall

Bank of England maintains Bank Rate at 0.5% and increases size of Asset Purchase Programme by £50 billion to £375 billion

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to increase the size of its asset purchase programme, financed by the issuance of central bank reserves, by £50 billion to a total of £375 billion.

Posted by dill @ 12:19 PM (2453 views)
Please complete the required fields.



10 thoughts on “Another brick in the wall

  • mark wadsworth says:

    Another Dutch boy’s finger in the water retaining earthworks.

    Reply
    Please complete the required fields.



  • Must get my cash out of the UK asap.

    Reply
    Please complete the required fields.



  • general congreve says:

    From the BBC:

    http://www.bbc.co.uk/news/business-18724010

    “Without an increase in QE, the Bank said there was a danger that inflation would fall below its target rate of 2%.”

    In other news, the BoE said:

    “Alright, we fess up, QE is all about robbing you of your money, but you’re all so ignorant we can now openly come out and say it and you still won’t get it, muppets!”.

    Reply
    Please complete the required fields.



  • GC @4,
    Just as well I’m not a teenager, I’d riot and probably get arrested!

    When inflation goes up again the politicians will just blame the greedy Arabs (Chinese, EU etc)….

    @khards,
    Where are you going to put the cash? Many papers are advising property because it will still be there when all the financial mess “goes away”.

    By the way, who is misrepresenting Libor these days, now that Diamond has resigned?

    Reply
    Please complete the required fields.



  • Irish property. Within 20 mins travelling distance of the city.

    Reply
    Please complete the required fields.



  • Or even worst, they could put the property tax up to more than 100 euros. I have been paying £1800/year in the UK or 2160euros.

    There are plenty of Guinness drinkers paying tax via alcohol to keep the place running for years 😉

    Reply
    Please complete the required fields.



  • general congreve says:

    @8 – Good old Irish lushes!

    If you can buy property with little or no leverage at sensible prices (and it is now much more affordable in Ireland if that is your bag), coupled with a nice little bag of PM’s is a pretty well balanced investment mix right now, IMO. So looks like you’re home and dry Khards! 🙂

    Reply
    Please complete the required fields.



  • “Without an increase in QE, the Bank said there was a danger that inflation would fall below its target rate of 2%.”

    And of course, prices going down is the last thing anyone want’s………t0ssers.

    Reply
    Please complete the required fields.



  • Funny that the minimum 2% inflation target is set in stone, whereas as the maximum 2% inflation target seems purely discretionary. If 2% was the target surely they would be trying to undershoot if now to make up for 5 years of overshooting it?
    Fact is we know QE is merely being used to offset the massive deleveraging of UK Banks (this is why we see no Weimar style hyperinflation). Going by the M4 data they need another £100bn.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>