Bank of England Base rate & other news

[AtW]

(Govt) Bond buying --> money printing

[Martin@AS Financial]

Bank Rate maintained at 0.1% - June 2021

Full report here:

https://www.bankofengland.co.uk/mone...2021/june-2021

[AtW]

”Independent” chicken tulips, as usual

[OwlHoot]

:::

"Labour could order biggest Bank of England shake-up in decades"

https://uk.reuters.com/article/us-br...-idUKKBN1JF32Y

Labout are in the wilderness now, just a fringe party unlikely to win an election for ten years if ever

Also, "productivity" is measured by GDP, which perversely includes public spending. So Labour's pledge, although it sounds commendable, is no more than a deceitfully indirect way of saying they would increase government borrowing and taxes, which would end up massively DEcreasing genuine private sector productivity!

Edit: I just noticed, that article is over three years old! (Not that Labour policy will ahve changed since then)

[Martin@AS Financial]

Bank Rate maintained at 0.1% - August 2021

Full report here:

https://www.bankofengland.co.uk/mone...21/august-2021

[Martin@AS Financial]

Base rate maintained at 0.1%

Of particular interest, the Bank of England have revised their expectations of UK GDP in Q3 downwards by 1% since their report in August which is 2.5% below pre covid levels.

This is partly due to "lengthier supplier delivery times, backlogs of work and significant material and labour shortages in some sectors".

Happily though, consumer confidence remains strong with household spending remaining at generally good levels

"Although official estimates of retail sales volumes had fallen by 0.9% in August, the level of sales had remained over 4% above its pre-Covid levels".





Full report here:

https://www.bankofengland.co.uk/mone...fa85-113524461

[_V_]

Base rate maintained at 0.1%

Of particular interest, the Bank of England have revised their expectations of UK GDP in Q3 downwards by 1% since their report in August which is 2.5% below pre covid levels.

This is partly due to "lengthier supplier delivery times, backlogs of work and significant material and labour shortages in some sectors". Brexit

Happily though, consumer confidence remains strong with household spending remaining at generally good levels

[Paralytic]

Happily though, consumer confidence remains strong with household spending remaining at generally good levels

Well, duh, of course it is. The economy is full of £billions of furlough money the government has given for people to watch Homes Under the Hammer and order Uber Eats . It'll be interesting to see how it compares in a couple of months.

[_V_]

Well, duh, of course it is. The economy is full of £billions of furlough money the government has given for people to watch Homes Under the Hammer and order Uber Eats . It'll be interesting to see how it compares in a couple of months.

Don't forget not having to pay your mortgage or rent for a long time.

https://www.mortgagefinancegazette.c...me-17-09-2021/

[Martin@AS Financial]

Bank Rate maintained at 0.1%

For all the talk recently of an increase The MPC voted by a majority of 7-2 to maintain Bank Rate at 0.1%

Full report here:

https://www.bankofengland.co.uk/mone...c395-113524461