Reply to: Bank of England Base rate & other news

[Paddy]

Bank of England's Mann sees upward inflation risks


An interesting report showing that the UK is not out of the woods yet when it comes to inflation.

Full report here:

https://www.reuters.com/world/uk/ban...ks-2024-11-13/

The initial goal of the Bank of England in raising interest rates was to curb inflation driven primarily by retail spending. However, it has become increasingly clear that current inflation is largely influenced by government actions, local authorities, and organizations such as Ofgem.

[Martin@AS Financial]

Bank of England's Mann sees upward inflation risks


An interesting report showing that the UK is not out of the woods yet when it comes to inflation.

Full report here:

https://www.reuters.com/world/uk/ban...ks-2024-11-13/

[Martin@AS Financial]

Bank Rate reduced to 4.75% - November 2024

Looking at the report, it is interesting to note that there was a 8-1 majority to reduce the base rate by 0.25%. This essentially means that they are confident that inflation is heading in the right direction.


Full report here:

https://www.bankofengland.co.uk/mone.../november-2024

[Martin@AS Financial]

The end of LIBOR

Full report here from the Bank Of England:

https://www.bankofengland.co.uk/news...ST_EMAIL_ID%5D

[vetran]

Dats a bit racist isn't it?

You are Gary Linaker and I claim my 5 crisps

[Martin@AS Financial]

Bank Rate maintained at 5% - September 2024


No significant surprises here as it would have been a fairly bold decision to have swiped a further 0.25% from the base rate.

Full report here:

https://www.bankofengland.co.uk/mone...september-2024

[WTFH]

Dats a bit racist isn't it?

What race are you claiming to be part of today? (perhaps ask your accountant on that one)

[PCTNN]

Can someone tell me in plain English, will my house price go up?

yes

[northernladuk]

No, but if you move out, the neighbours' houses will go up in price.

Dats a bit racist isn't it?

[WTFH]

Can someone tell me in plain English, will my house price go up?

No, but if you move out, the neighbours' houses will go up in price.

[northernladuk]

Can someone tell me in plain English, will my house price go up?

[Martin@AS Financial]

Full report and minutes here from the BOE:


https://www.bankofengland.co.uk/-/me...ugust-2024.pdf

The most telling paragraph is:

"Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further. The Committee continues to monitor closely the risks of inflation persistence and will decide the appropriate degree of monetary policy restrictiveness at each meeting."

[jamesbrown]

Huh?

5% from 5.25%

https://www.theguardian.com/business...08a0af63bb3a6c

5 to 4 vote
https://www.bbc.co.uk/news/live/cx92...965fb7a34#post

Bang in line with market expectations...

[SueEllen]

Huh?

5% from 5.25%

https://www.theguardian.com/business...08a0af63bb3a6c

5 to 4 vote
https://www.bbc.co.uk/news/live/cx92...965fb7a34#post

[willendure]

I can imagine the overpaid under educated BoE thinking, we can’t be seen making a mistake so we will wait a see what the Fed will do.

Doesn't really work like that.

Its more a case of, if we cut under the fed, then capital will flow out of the UK into the USA. So I bet we will not cut and instead wait until the Fed does. The fed is the 800 pound gorilla in this game.