• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

I think interest rates will stay at 5.25%, place your bets...

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    I think interest rates will stay at 5.25%, place your bets...

    and if i'm right i get to be smug for the rest of the day.
    If I'm wrong then, well I guess no so smug...
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Wrong! They will be 5.5.
    Hard Brexit now!
    #prayfornodeal

    Comment


      #3
      You might get lucky, but others don't see it that way.

      May 10 (Bloomberg) -- The Bank of England will probably raise its benchmark interest rate to a six-year high today to contain the fastest inflation in a decade, a survey of economists shows.

      The nine-member Monetary Policy Committee will increase the Bank Rate a quarter-point to 5.5 percent, the highest since April 2001, said all 61 economists in a Bloomberg News survey. The bank announces the decision at noon in London. Eleven of 43 economists predict another move to 5.75 percent by the end of the year.
      Bloomberg

      Can't find a link, but I think BNP Paribas gave 50bp a shot too.
      Drivel is my speciality

      Comment


        #4
        Gordon told me they are going up to 5.5%. Make no mistake!
        Keep it clean!!!

        Comment


          #5
          Originally posted by scooterscot
          and if i'm right i get to be smug for the rest of the day.
          If I'm wrong then, well I guess no so smug...
          The cynic in me says you're probably correct.
          Insanity: repeating the same actions, but expecting different results.
          threadeds website, and here's my blog.

          Comment


            #6
            Originally posted by Maxamus
            Gordon told me they are going up to 5.5%. Make no mistake!
            Nothing to do with el Gordo. The first, and probably the only good, thing he ever did was giving independence to the Bank of England. However, the reason for that was so that he didn’t get the blame for the overdue need to raise interest rates.
            Drivel is my speciality

            Comment


              #7
              To steal a bit of dialogue from an advert "let's wait and see, shall we?"

              I’d be surprised is the BoE made such a rash descision based on events/media reports of the last 30 days or so.
              "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

              Comment


                #8
                +25bp

                -----
                The Bank of England’s Monetary Policy Committee today voted to raise the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.5%.

                In the United Kingdom, output growth has remained firm. Business investment has been stronger than expected and, although indicators of consumer spending have been volatile, the underlying picture is one of steady growth. Credit and broad money continue to grow rapidly. The pace of expansion of the international economy remains robust.

                CPI inflation picked up to 3.1% in March. Lower gas and electricity prices and weaker import price inflation mean that CPI inflation is likely to fall back to around the 2% target in the course of this year. But the margin of spare capacity in firms appears limited and there are signs that businesses are more able to push through price increases. Relative to the 2% target, the risks to the outlook for inflation in the medium term consequently remain tilted to the upside.

                Against that background, the Committee judged that a further increase in Bank Rate of 0.25 percentage points to 5.5% was necessary to meet the 2% target for CPI inflation in the medium term.

                The Committee’s latest inflation and output projections will appear in the Inflation Report to be published on Wednesday 16 May.

                The minutes of the meeting will be published at 9.30am on Wednesday 23 May.
                BoE
                Last edited by Buffoon; 10 May 2007, 11:03.
                Drivel is my speciality

                Comment


                  #9
                  oh bugger - smug mode off
                  "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                  Comment


                    #10
                    Originally posted by scooterscot
                    oh bugger - smug mode off
                    Should have gone higher really, Sterling has fallen. So I'd say a half smugness.
                    Insanity: repeating the same actions, but expecting different results.
                    threadeds website, and here's my blog.

                    Comment

                    Working...
                    X