Bank Of England Base Rate News

[GB9]

You mean I used internet calculator and it was wrong on the first place on google? Blame me.

OK. You're to blame.

I told you to switch off your Internet connection but you want to persist in making a womble of yourself.

[diseasex]

OK. You're to blame.

I told you to switch off your Internet connection but you want to persist in making a womble of yourself.

haha you told me. OK master. Any other wishes?
Sorry but you're total muppet

[BlasterBates]

Looks like the BOE predictions pre-Brexit were spot on:

Carney Takes ‘Exceptional’ Action With Rate Cut After Brexit - Bloomberg

We took these steps because the economic outlook has changed markedly,” Carney told reporters in London on Thursday. “Indicators have all fallen sharply, in most cases to levels last seen in the financial crisis, and in some cases to all-time lows.

If anything they should be criticised for being too optimistic pre-Brexit.

[diseasex]

Looks like the BOE predictions pre-Brexit were spot on:

Carney Takes ‘Exceptional’ Action With Rate Cut After Brexit - Bloomberg



If anything they should be criticised for being too optimistic pre-Brexit.

It's only part of economic cycle and would happen anyway. Brexit has nothing to do with it. The economy needs to readjust itself to be land of bees and flowers and coal miners

[Forgotmylogin]

I'm confused.

We were warned that if the UK voted for Brexit it would mean interest rates would go up and no-one would be able to pay their mortgages.

You're not telling me that yet another of the pre-vote warnings was wrong are you?

[MarillionFan]

Excellent. Another £1k in my pocket for nothing.

[diseasex]

I'm confused.

We were warned that if the UK voted for Brexit it would mean interest rates would go up and no-one would be able to pay their mortgages.

You're not telling me that yet another of the pre-vote warnings was wrong are you?

It means the economy is tanking and they need to encourage lending to boost it. Share stock market will go up or stale, mortgage rates will drop or stay the same, the debt will increase which is dangerous. We might face deflation (if QE fails) which is also dangerous with oil prices at rock bottom etc. I might get a cheap loan and put on stock market or gold.

[TestMangler]

I'm confused.

We were warned that if the UK voted for Brexit it would mean interest rates would go up and no-one would be able to pay their mortgages.

You're not telling me that yet another of the pre-vote warnings was wrong are you?

But that was Osborne who said that. You know the guy, ex-chancellor, been lying to you for years and you all though he was a genius (or at least voted for more of his policies) ??

[GB9]

haha you told me. OK master. Any other wishes?
Sorry but you're total muppet

Yes. Sort your grammar out.

[jamesbrown]

If anything they should be criticised for being too optimistic pre-Brexit.

The BoE did what they always do in these situations. Push the headless chicken button, and sell it, in a calming tone, as a headed chicken, carefully considered, involving joined-up thinking between the MPC, FPC and PRA, and one that will definitely calm the markets. That is, unless the markets are a headless chicken.

The BoE knows perfectly well that this isn't a credit crisis. There's a fundamental lack of demand in the economy that no amount of credit easing is going to address. There are deep structural problems that extend far back, long before the recent financial crisis, and all the actions taken by the BoE since that crisis have only rooted them more deeply. Brexit will obviously hit demand in the short-term, but it's a sideshow. All this asset pumping might've been forgiven, had the BoE succeeded on any terms, even their own terms, but they haven't. Take a look at the ASI report released yesterday, which is a damning indictment of the FPC's stress tests and worrying reading for anyone that thinks the BoE is anything more than a dutch kid with a dyke.