Bank of England Base rate & other news

[OwlHoot]

Like rearranging the deckchairs on the Titanic?

I'm always hearing that phrase, but if they'd rearranged them and tied them together into big rafts, dozens more passengers might have been saved. So it isn't as futile as it sounds

[Martin@AS Financial]

Bank Rate increased to 1%

Interestingly this was voted for by a majority of 6-3. Those in the minority wanted to put in place an increase of 0.5% which would have meant a new base rate of 1.25%.


Full report here:

https://www.bankofengland.co.uk/mone.../2022/may-2022

[SueEllen]

They admitted a couple of days ago in the press that increasing interest rates would do SFA to deal with inflation.

[DealorNoDeal]

They admitted a couple of days ago in the press that increasing interest rates would do SFA to deal with inflation.

They'd have to set them so high to have any effect that it would kill the economy.

Having said that, the economy is probably on thin ice anyway.

[Paddy]

I'm always hearing that phrase, but if they'd rearranged them and tied them together into big rafts, dozens more passengers might have been saved. So it isn't as futile as it sounds

The area of timber for deckchair is very small and it would need about ten chairs per person. In any event, a person would be partially submerged in the water and die within ten minutes due to the ice cold water.

[Martin@AS Financial]

The route back to 2% inflation − speech by Michael Saunders

It's a bit of a read but it's an interesting speech from Michael Saunders who is a member of the Monetary Policy Committee:

https://www.bankofengland.co.uk/spee...undation-event

[Martin@AS Financial]

Bank Rate increased to 1.25% - June 2022

The BOE is again demonstrating that the 2% inflation target is the most important thing on their agenda. The increase was voted for convincingly at 6/3.

Full story here:

https://www.bankofengland.co.uk/mone...2022/june-2022

[jamesbrown]

Hardly. A 0.25% increment is a very limp responses indeed, especially in light of the Fed's 0.75% yesterday.

[d000hg]

Hardly. A 0.25% increment is a very limp responses indeed, especially in light of the Fed's 0.75% yesterday.

My 5 year fixed mortgage is looking great these days!

[jamesbrown]

My 5 year fixed mortgage is looking great these days!

It is only going to look better as time progresses...