Thursday, Apr 09, 2015

"The MPC has indicated rates could be reduced further, should low inflation persist"

BBC: UK interest rates kept at record low

UK interest rates have been held at 0.5% for another month by the Bank of England. The decision by the Monetary Policy Committee comes more than six years after the record low was introduced. The half-dozen years of ultra-low interest rates have cut returns on savings, while mortgage borrowers have reaped the benefits of lower repayments. Rates have been at a record low for the entire Coalition government period.
Expectations of a rise any time this year have been put on hold with Consumer Price Index (CPI) inflation at zero.

Posted by jack c @ 02:11 PM (4023 views)
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1. nickb said...

Deja vu, plus ca change etc. etc. At least low interest rates will compensate somewhat for the grossly inflated (and eventally popping) prices if I cave in and buy. Feeling the frustration now, aged 44 and about to move to Reading where you can now rent a damp shoe box for 800pcm if you are lucky.

Thursday, April 9, 2015 02:29PM Report Comment

2. nickb said...

However, if deflation continues and feeds through to wages, as seems likely under austerity policies, then real interest rates will be after all increasing.

Thursday, April 9, 2015 02:38PM Report Comment

3. clockslinger said...

Yeah, I've noticed my water bill and train fare have f'king cratered. With all those savings I'm going to get into buy to let (after I've made sure I vote Conservative to ensure the good times just keep on rolling like this for me and Lord Green)

Thursday, April 9, 2015 02:38PM Report Comment

4. debtserf said...

The MPC's 'jawbone' strategy: just talk about putting rates up (some time in the near future) without ever doing so. It's the new efficient way of conducting policy. About as reality-based as 'affordable housing' and 'economic recovery'.

Thursday, April 9, 2015 02:52PM Report Comment

5. nickb said...

Bet your petrol came down a bit though. On the election I'm torn between spoiling the ballot paper and abstention.

Thursday, April 9, 2015 02:52PM Report Comment

6. mombers said...

@5 nickb I'm in a safe seat so I'm going to draw hairy genitals all over my ballot. I really think there should be a 'None of the above' option - that would get more people to vote I reckon.

Thursday, April 9, 2015 04:06PM Report Comment

7. jack c said...

@ mombers - 'None of the above' option is something that a Solicitor I know has been proposing for several years.As you suggest it would likely get more people to vote.

Thursday, April 9, 2015 04:22PM Report Comment

8. Noallegiance said...

NOTA is an option in the pipeline.

Sign it and spread it around peeps.

Thursday, April 9, 2015 04:55PM Report Comment

9. khards said...

We'll be spoiling the ballot paper too, there's nobody we want to vote for.

Thursday, April 9, 2015 05:08PM Report Comment

10. mombers said...

@7,8 In the US they have the legal option of a 'write in candidate' - you can write the name of someone who isn't on the ballot in. Some candidates have actually won using this! 'None of the above' would of course not result in a candidate winning but it would be nice if this was reported separately to spoiled ballots.

Thursday, April 9, 2015 05:56PM Report Comment

11. enuii said...

I have wanted this option for years, the quality of candidates in my constituency usually results in the selection of the least worst option.

Thursday, April 9, 2015 08:03PM Report Comment

12. clockslinger said...

jack c, if your solicitor mate thinks having more choices in an election will make a difference I am afraid he has clearly never heard of Lucy Parsons (of the IWW).
Lucy was described by Chicago police in 1920 as "more dangerous than a thousand rioters". (You may disagree but I'd say that should be regarded that as the highest possible praise of her insight, the trenchant nature of her arguments and her skill as an orator given that it was coming from a bunch of m'f'kers like that.)
She said all you need to know about elections in thirteen words.
"Never be deceived that the rich will let you vote away their wealth."

Sunday, April 12, 2015 06:32PM Report Comment

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