Bank of England base rate held at 0.75%

**TwoWolves** · 1 August 2019, 11:55

Keeping our kindling dry I see.

**AtW** · 1 August 2019, 12:41

Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.

**TwoWolves** · 1 August 2019, 13:00

Originally posted by AtW View Post

Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.

There'd be £2 to the $ but the government would have defaulted. My kind of Britain.

**AtW** · 1 August 2019, 13:05

Originally posted by TwoWolves View Post

There'd be £2 to the $ but the government would have defaulted. My kind of Britain.

Why would the Govt default on debt issued in their own local currency? They can always print it.

**CryingSheep** · 1 August 2019, 19:22

Originally posted by AtW View Post

Why would the Govt default on debt issued in their own local currency? They can always print it.

In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!

**scooterscot** · 1 August 2019, 19:35

Originally posted by AtW View Post

Why would the Govt default on debt issued in their own local currency? They can always print it.

Indeed. Worked out so well for Zimbabwe

Ps. They print notes, not currency. And that promise to pay gets thinner by the day.

**AtW** · 1 August 2019, 19:39

Originally posted by CryingSheep View Post

In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!

In 10 years 1 USD will be £ 20 (English Sterling with Boris face on it )

Bank of England base rate held at 0.75%