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Previously on "Bank of England Base rate & other news"

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  • ladymuck
    replied
    Originally posted by AtW View Post

    Not the same experience, Shirley?
    This is true. It's a much better one!

    Leave a comment:


  • AtW
    replied
    Originally posted by SueEllen View Post
    Don't they have a ecommerce store?
    Not the same experience, Shirley?

    Leave a comment:


  • SueEllen
    replied
    Originally posted by AtW View Post

    There will be riots if Harrods sale is cancelled...
    Don't they have a ecommerce store?

    Leave a comment:


  • AtW
    replied
    Originally posted by SueEllen View Post
    There is going to be some sort of lockdown on Boxing Day.
    There will be riots if Harrods sale is cancelled...

    Leave a comment:


  • SueEllen
    replied
    Originally posted by AtW View Post
    ""Although the conditions for tightening set out in November had been met, the decision at this meeting was finely balanced because of the uncertainty around Covid developments."

    But now (day after the highest infections) Covid-wise things are very certain, so it's ok to increase rates

    There is going to be some sort of lockdown on Boxing Day.

    Leave a comment:


  • AtW
    replied
    ""Although the conditions for tightening set out in November had been met, the decision at this meeting was finely balanced because of the uncertainty around Covid developments."

    But now (day after the highest infections) Covid-wise things are very certain, so it's ok to increase rates

    Leave a comment:


  • Martin@AS Financial
    replied
    Bank Rate increased to 0.25%

    Full Report here:

    https://www.bankofengland.co.uk/mone...f32a-113524461


    It is certainly an interesting time to have made the decision to increase the base rate by 0.15 in the midst of a pandemic and also just before Christmas.

    Taken from the report:

    "At this meeting, most members of the Committee judged that an immediate, small increase in Bank Rate was warranted. Although the conditions for tightening set out in November had been met, the decision at this meeting was finely balanced because of the uncertainty around Covid developments. There was some value in waiting for further information on the degree to which Omicron was likely to escape the protection of current vaccines and on the initial economic effects of this new wave. There was, however, also a strong case for tightening monetary policy now, given the strength of current underlying inflationary pressures and in order to maintain price stability in the medium term. The economic impact of the new variant could, in some scenarios, increase these inflationary pressures further. Moreover, maintaining the current monetary policy stance when CPI inflation was materially above the 2% target and the output gap appeared to be closed might cause medium-term inflation expectations to drift up further."

    Leave a comment:


  • Martin@AS Financial
    replied
    Bank Rate maintained at 0.1%

    For all the talk recently of an increase The MPC voted by a majority of 7-2 to maintain Bank Rate at 0.1%

    Full report here:

    https://www.bankofengland.co.uk/mone...c395-113524461

    Leave a comment:


  • _V_
    replied
    Originally posted by Paralytic View Post

    Well, duh, of course it is. The economy is full of £billions of furlough money the government has given for people to watch Homes Under the Hammer and order Uber Eats . It'll be interesting to see how it compares in a couple of months.
    Don't forget not having to pay your mortgage or rent for a long time.

    https://www.mortgagefinancegazette.c...me-17-09-2021/

    Leave a comment:


  • Paralytic
    replied
    Originally posted by Martin@AS Financial View Post
    Happily though, consumer confidence remains strong with household spending remaining at generally good levels
    Well, duh, of course it is. The economy is full of £billions of furlough money the government has given for people to watch Homes Under the Hammer and order Uber Eats . It'll be interesting to see how it compares in a couple of months.

    Leave a comment:


  • _V_
    replied
    Originally posted by Martin@AS Financial View Post
    Base rate maintained at 0.1%

    Of particular interest, the Bank of England have revised their expectations of UK GDP in Q3 downwards by 1% since their report in August which is 2.5% below pre covid levels.

    This is partly due to "lengthier supplier delivery times, backlogs of work and significant material and labour shortages in some sectors". Brexit

    Happily though, consumer confidence remains strong with household spending remaining at generally good levels

    Leave a comment:


  • Martin@AS Financial
    replied
    Base rate maintained at 0.1%

    Of particular interest, the Bank of England have revised their expectations of UK GDP in Q3 downwards by 1% since their report in August which is 2.5% below pre covid levels.

    This is partly due to "lengthier supplier delivery times, backlogs of work and significant material and labour shortages in some sectors".

    Happily though, consumer confidence remains strong with household spending remaining at generally good levels

    "Although official estimates of retail sales volumes had fallen by 0.9% in August, the level of sales had remained over 4% above its pre-Covid levels".





    Full report here:

    https://www.bankofengland.co.uk/mone...fa85-113524461

    Leave a comment:


  • Martin@AS Financial
    replied
    Bank Rate maintained at 0.1% - August 2021

    Full report here:

    https://www.bankofengland.co.uk/mone...21/august-2021

    Leave a comment:


  • OwlHoot
    replied
    Originally posted by Martin@AS Financial View Post

    :::

    "Labour could order biggest Bank of England shake-up in decades"

    https://uk.reuters.com/article/us-br...-idUKKBN1JF32Y
    Labout are in the wilderness now, just a fringe party unlikely to win an election for ten years if ever

    Also, "productivity" is measured by GDP, which perversely includes public spending. So Labour's pledge, although it sounds commendable, is no more than a deceitfully indirect way of saying they would increase government borrowing and taxes, which would end up massively DEcreasing genuine private sector productivity!

    Edit: I just noticed, that article is over three years old! (Not that Labour policy will ahve changed since then)
    Last edited by OwlHoot; 24 June 2021, 21:31.

    Leave a comment:


  • AtW
    replied
    ”Independent” chicken tulips, as usual

    Leave a comment:

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