Pop

[Diestl]

http://news.bbc.co.uk/1/hi/business/6571043.stm

Must be a 2% rate increase coming.

[Churchill]

Surely most financial institutions should be able to set their own interest rates irrespective of the BoE.

They've probably got enough assets/cash to fund their own lending rather than going cap in hand to the BoE...

Hmmmmmmmmm.

[Hart-floot]

http://news.bbc.co.uk/1/hi/business/6571043.stm

Must be a 2% rate increase coming.

Some economists are forecasting a half point rise in May. There is now an increasing likelihood of interest rates hitting 6% now especially as the RPI is now 4.8% and rising

[Numptycorner]

Surely most financial institutions should be able to set their own interest rates irrespective of the BoE.

They've probably got enough assets/cash to fund their own lending rather than going cap in hand to the BoE...

Hmmmmmmmmm.

Most money they lend doesn't physically exist. The banks are forced to use BOE rates becuase they act of borrower of last resort.

Conversely, If every saver withdrew their savings from the system in the same day the banks would collapse.