Bank of England Governor warns that Britons face higher inflation for longer

[AtW]

ditching them for BT Vision.

[shaunbhoy]

I was going to say "You sound like you speak having experience of both providers". Then I remembered it was you that I was conversing with.

[Not So Wise]

Inflation will not stop until the "quantitative easing" (read: Printing money like there is no tomorrow) stops. Longer it goes on worse the inflation will get. When it stops and when/if pound recovers inflation will slow down, not before

Sky put their subscription up by a pound today. And for what? The same ol' rubbish that they churn out day in day out. I've already cut the movies and sports and might be tempted to cut further, if only to make a point to them that I hate over-paying for this junk.

Yes I'd like to keep the Sports channel but it's a matter of principal now. And it gives me a good reason to get out of the house to watch the footie in the pub.

Inflation up everywhere, except in our rates & salaries.

Dropped sky a few months ago, basically if you have no interest in the sports it's a waste of money. Had a call from one of their reps yesterday to try to find out why i left and if they could tempt me back.

He did not get the reference to "57 channels and nothing on" but even he agreed way too much advertising (roughly 25% of all transmissions), don't think he liked my counter to his suggestion of just watching stuff recorded on sky+ "why would i pay you to watch recorded stuff when i can not only download it in HD without ad's for free but also months ahead of you because i get direct from the states?"
He promptly terminated the call

[lilelvis2000]

Job of BoE is to ensure inflation stays within given parameters - also, to a degree they were limited to, ensure stability of the banking system.

When this all started I seem to remember some commentators being worried about deflation. It seems that the BoE has pretty well ensured that didn't happen (bastards!) and has now made sure that the poor are now poorer and the rich are still rich.

[AtW]

When this all started I seem to remember some commentators being worried about deflation. It seems that the BoE has pretty well ensured that didn't happen (bastards!) and has now made sure that the poor are now poorer and the rich are still rich.

The truth is that they are REALLY worried about deflation... of house prices!

[lilelvis2000]

Get rid of it. There's more than enough to watch on terrestrial + Freeview & Freesat. I was glad to get shot of it.

We're on the free SKY. which gives us more than we need to - including those nasty Bollywood channels above 790. A few months ago SKY wanted £20 off us for a new card - all so we could enjoy Five and Fiver. So now we don't have Five and I can't say that we miss it.

[lilelvis2000]

The truth is that they are REALLY worried about deflation... of house prices!

Yes, making sure that we all still think we're rich and pay those ridiculous house prices of which 80%+ is mortgaged at very high rates. A nice way to keep friends happy don'tcha think?

[d000hg]

Inflation will not stop until the "quantitative easing" (read: Printing money like there is no tomorrow) stops. Longer it goes on worse the inflation will get. When it stops and when/if pound recovers inflation will slow down, not before

Didn't they cease QE some months ago?

Seems a boring story. Inflation is falling, they just hoped it'd fall faster.

[AtW]

Didn't they cease QE some months ago?

0.5% rate when inflation is well over 4-5% is QE in itself.

I doubt they stopped buying gilts by proxy (banks buy it from Govt to show good take up on Govt debt and resell to BoE straight away for a big fat commission), that's QE v2.

QE v3 will be when BoE starts buying repoed houses.

HTH