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Bank of England Base rate & other news

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    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.

    Comment


      Originally posted by Martin@AS Financial View Post
      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 .

      Comment


        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

        Comment


          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/

          Comment


            Originally posted by Martin@AS Financial View Post
            UK inflation rate unexpectedly rises to 10.4% in February
            Only unexpected by someone who never goes shopping ...

            Comment


              Originally posted by Protagoras View Post

              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... )
              …Maybe we ain’t that young anymore

              Comment


                US raises interest rates despite banking turmoil

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

                Comment


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

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

                  Comment


                    Summary & minutes of the meeting here:

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

                    Comment


                      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/

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