Bank of England Base rate & other news

[dsc]

No it won't but will push demand down even further and force more to save whatever they have left (and people have spare cash, it's not all doom and gloom, just go out shopping on a weekend). They are not going hardcore like some countries which are currently at above 5%, if they sat on their asses they'd be getting it from the "you're not doing anything" crowd.

Besides, core inflation is at above 6% and rising, whilst headline is 10%.

[DealorNoDeal]

Might be a while before they get inflation back to the target 2%.

If they raise rates high enough, maybe we'll get the other flations: stagflation then deflation.

[jamesbrown]

3%

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

[hugebrain]

3%

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

Keeping it below the US rate and far below inflation, so a bonanza for all you buy-to-letters out there.

[Protagoras]

Keeping it below the US rate and far below inflation, so a bonanza for all you buy-to-letters out there.

Only 3%. Got to keep the value of the pound low to help with the sell-off of UK interests.

[jamesbrown]

Keeping it below the US rate and far below inflation, so a bonanza for all you buy-to-letters out there.

A bonanza of losses, especially when Rishi's Eye of Sauron spots you shortly.

[Paddy]

GBP just took a dive. Investors think the government don't know which way to turn. It would have been better to leave interest rates alone. FFS stop thinking we are part of the USA.

[jamesbrown]

GBP just took a dive. Investors think the government don't know which way to turn. It would have been better to leave interest rates alone. FFS stop thinking we are part of the USA.

The reason it took a dive is that the BoE is currently forecasting the longest contraction for decades. The BoE's mandate is price stability, not avoiding recessions (except insofar as it alters the medium-term inflation outlook).

[WTFH]

Getting close to the time to start investing (maybe next 6-12 months)

I wonder when savings rates will start to climb, or will they remain so far behind inflation that the best thing to do with excess funds is spend, spend, spend

[jamesbrown]

3.5%

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