Bank of England Base rate & other news

[Martin@AS Financial]

Yesterday, we met with Accord (the broker arm of The Yorkshire Building Society) and their prediction for 2023 was that inflation will fall rapidly which could in turn drive down the base rate.

In terms of house prices, they are expecting a fall of around 11% before a period of growth starting in Jan 2024.

[jamesbrown]

Yesterday, we met with Accord (the broker arm of The Yorkshire Building Society) and their prediction for 2023 was that inflation will fall rapidly which could in turn drive down the base rate.

In terms of house prices, they are expecting a fall of around 11% before a period of growth starting in Jan 2024.

A broker predicting a return to more favourable market conditions for brokers, I'm shocked.

In reality, inflation forecasts from pretty much everyone have been pants in recent years, and I'm sure Accord has no special insight in this regard. Their forecasts are most likely crap, but perhaps they'll get lucky this time .

[Martin@AS Financial]

HM Treasury and Bank of England consider plans for a digital pound


Full story here:

https://www.bankofengland.co.uk/news...ST_EMAIL_ID%5D

[Martin@AS Financial]

UK inflation rate unexpectedly rises to 10.4% in February

The latest increase in inflation will be of concern to the Bank of England and they will be asking themselves whether to raise the base rate tomorrow despite the events unfolding in the international banking sector.

Full report here from Reuters:

https://www.reuters.com/world/uk/uk-...ns-2023-03-22/

[Protagoras]

UK inflation rate unexpectedly rises to 10.4% in February

Only unexpected by someone who never goes shopping ...

[WTFH]

Only unexpected by someone who never goes shopping ...

You mean like someone who borrows a car to pretend to fill it up with fuel for a publicity shot, then doesn't know how a credit card machine works?

https://www.huffingtonpost.co.uk/ent...b019fd8138588f

(at least he wasn't running the country when he did that photo op, only running the economy. Oh, wait... )

[Protagoras]

US raises interest rates despite banking turmoil

https://www.bbc.co.uk/news/business-65041649

[Protagoras]

Bank of England raises UK interest rates by quarter point to 4.25%

https://www.theguardian.com/business...ates-inflation

[Martin@AS Financial]

Summary & minutes of the meeting here:

https://www.bankofengland.co.uk/-/me...march-2023.pdf

[Martin@AS Financial]

UK inflation falls by less than expected, heaping pressure on BoE

Whilst inflation appears to be falling (currently 8.7%), it remains far higher than the Bank of England would like. This is even more pronounced as the government has set the BOE an inflation target of 2%.

https://www.bankofengland.co.uk/mone...licy/inflation

Full report from Reuters:

https://www.reuters.com/world/uk/uk-...ns-2023-05-24/