BoE cuts base rate from 0.75% to 0.25%

[_V_]

Great news for those on a tracker mortgage I would expect.

[Dark Black]

Great news for those on a tracker mortgage I would expect.

[scooterscot]

Only 0.25% to go!

Then socialist Boris will pass decree to confiscate private individuals from holding gold & cash.

[eek]

Only 0.25% to go!

Then socialist Boris will pass decree to confiscate private individuals from holding gold & cash.

At least the BoE had options to deal with this crisis. I'm looking forward to seeing what tools the ECB have that haven't already been fully (ab)used..

[scooterscot]

At least the BoE had options to deal with this crisis. I'm looking forward to seeing what tools the ECB have that haven't already been fully (ab)used..

Some option!

Hear this, the last central bank to lower rates will be the last one to increase them when all this is over.

[eek]

Some option!

Hear this, the last central bank to lower rates will be the last one to increase them when all this is over.

How do you cut interest rates below 0 and relax capital ratios when they were already relaxed?

[_V_]

If you don't die, you will be laughing!

[scooterscot]

How do you cut interest rates below 0 and relax capital ratios when they were already relaxed?

It is already happening. RBS already a government bank, really this is helicopter money. My bet is those mortgage payments will be forgiven and never paid.

But where do you draw the line? Why do the banks not forgive struggling business mortgages such as restaurants?


Coronavirus: Banks to allow customers to defer mortgage payments

Taxpayer-owned bank RBS will allow people affected by the coronavirus outbreak to defer mortgage and loan repayments for up to three months.


TSB and Lloyds said they would also allow a mortgage window, and the banks said savers could close fixed-term savings accounts without charge.


This is designed to allow people to access cash if they need it as the impact of the virus is felt.


Banks are also announcing extra support for affected businesses.

[Paddy]

It is already happening. RBS already a government bank, really this is helicopter money. My bet is those mortgage payments will be forgiven and never paid.

But where do you draw the line? Why do the banks not forgive struggling business mortgages such as restaurants?


Coronavirus: Banks to allow customers to defer mortgage payments

deferring mortgage payments will not be free. it will cost the consumer interest upon interest and it could be added to the total debt.

[Mordac]

At least the BoE had options to deal with this crisis. I'm looking forward to seeing what tools the ECB have that haven't already been fully (ab)used..

The ECB won't do anything until Germany is in trouble.