BoE – will they or wont they?

[Numptycorner]

We don't even know what the effect of the last raise was yet. Last months price rises would have been secured on rates at least two rises lower. We will need stats for July or August before we know what has happened. My guess is they won't be happy reading. Sell Sell Sell

[Buffoon]

+25bp

Statement:

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 5.75%.

In the United Kingdom, output growth has remained firm and appears to be evolving in line with the Committee’s most recent projections. Credit and broad money continue to grow rapidly. The pace of expansion of the world economy remains robust.

CPI inflation fell back to 2.5% in May. Lower gas and electricity prices mean that CPI inflation is likely to continue to fall back to around the 2% target in the course of this year. Although pay pressures remain muted, the margin of spare capacity in businesses appears limited and most indicators of pricing pressure remain elevated.

The Committee judged that, relative to the 2% target, the balance of risks to the outlook for inflation in the medium term continued to lie to the upside. Against that background, it further judged that an increase in Bank Rate of 0.25 percentage points to 5.75% was necessary to meet the 2% target for CPI inflation in the medium term.

The minutes of the meeting will be published at 9.30am on Wednesday 18 July.

Bank of England

[Rantor]

No but people have to live some where, I take it you either you rent, you managed to pay your mortgage off when you rates were low, or you have paid yours off, or you still live at home.

And screw you you ******

I don't recall insulting you directly but nevermind.

People need somewhere to live - yes, but that does not equate to the need, or right, to buy something without taking personal responsibility for the consequences.

Its not like a price bubble has never happened before in Britain is it?

I dunno, maybe it is just the puke-inducing sense of cloying get-rch-quick entitlement that hacks me off - and it is everywhere in britain.

Buying anything based on cheap mortgage fiannce without considering a future increase in interest rates equates to irresponsible idiocy.

Hey, maybe we shoul bail them out.....

Personal circumstances - sold up, not in the country and watching with interest.

[Ivor1]

Whoa.....so buying an overpriced asset based on cheap money wins you victim status now?

Maybe we should set up a fund to help these victims

Screw em all.

No but people have to live some where, I take it you either you rent, you managed to pay your mortgage off when you rates were low, or you have paid yours off, or you still live at home.

And screw you you ******

[Rantor]

Ever thought some people (the majority) have to take out mortgages, whats so funny about them having to pay out more if they are on a variable or discount. Its a sad state of affairs if people get pleasure from others pain.

Whoa.....so buying an overpriced asset based on cheap money wins you victim status now?

Maybe we should set up a fund to help these victims

Screw em all.

[TheRightStuff]

Will the BoE raise rates today? 53 out of 60 economists that Bloomberg surveyed said “yes”? I put the chances a tad lower, maybe 75%.

However, that’s what I think they WILL do. I think that they SHOULD raise them to 6% right now.

What do the members of this parish think that they a) ‘will’, and b) ‘should’ do?

100% certain. raising a 1/4 % isn't enough of a shock. They should of raised it by 0.5% a couple of months ago.

[BoredBloke]

I had a call the other day from one of those 'pay off all your debts' people, asking if I wanted to remortgage my house. When I told them no, she asked if I had considered a loan secured against it. Again I said no. At this point she asked why I didn't want one of their loans. Errr because I don't need one and if I did, I wouldn't be taking one out secured against my home and at their rates.

[Ivor1]

I hope the mugs keep taking out more debt and spending. Roll on 6% +

Ever thought some people (the majority) have to take out mortgages, whats so funny about them having to pay out more if they are on a variable or discount. Its a sad state of affairs if people get pleasure from others pain.

[Numptycorner]

I hope the mugs keep taking out more debt and spending. Roll on 6% +

[Buffoon]

Will the BoE raise rates today? 53 out of 60 economists that Bloomberg surveyed said “yes”? I put the chances a tad lower, maybe 75%.

However, that’s what I think they WILL do. I think that they SHOULD raise them to 6% right now.

What do the members of this parish think that they a) ‘will’, and b) ‘should’ do?