BoE raises interest rates to stem massive looming inflation

[TimberWolf]

Unless most of the insurance is done by London....

Good point. Is there a story there?

[Sockpuppet]

Markets sentiment is that leaving UK base rates unchanged is more destructive to the £ than a tsunami.

Sterling is down over 1% against the Yen today. Japan, which has and continues to suffer its biggest earthquake in recorded history and the 7th biggest in history globally, and which will presumably cost untold trillions of Yen to the economy, is on firmer ground than the UK.

Unless most of the insurance is done by London....

[TimberWolf]

Markets sentiment is that leaving UK base rates unchanged is more destructive to the £ than a tsunami.

Sterling is down over 1% against the Yen today. Japan, which has and continues to suffer its biggest earthquake in recorded history and the 7th biggest in history globally, and which will presumably cost untold trillions of Yen to the economy, is on firmer ground than the UK.

1.3% down now.

[TimberWolf]

Markets sentiment is that leaving UK base rates unchanged is more destructive to the £ than a tsunami.

Sterling is down over 1% against the Yen today. Japan, which has and continues to suffer its biggest earthquake in recorded history and the 7th biggest in history globally, and which will presumably cost untold trillions of Yen to the economy, is on firmer ground than the UK.

[amcdonald]

There's more than one logical leap of faith in that statement.

Is "inflation" only ever due to printing money?

No, theres

this kind of inflation as well

[Freamon]

0.5% official rate when real inflation is well over 5% is the same as printing money.

HTH

There's more than one logical leap of faith in that statement.

Is "inflation" only ever due to printing money?

[AtW]

In fact, in what sense is QE "printing money" in the first place?

0.5% official rate when real inflation is well over 5% is the same as printing money.

HTH

[Freamon]

While the continue to print money which, ironically, creates inflation! My what a wonderful world these bankers live in.

Besides, with all the money the US has printed, the BOE raising rates won't make a tiny bit of difference.

Can you explain? In what sense is the BoE "continuing" to print money, given that QE has been frozen for months. In fact, in what sense is QE "printing money" in the first place?

[lilelvis2000]

While the continue to print money which, ironically, creates inflation! My what a wonderful world these bankers live in.

Besides, with all the money the US has printed, the BOE raising rates won't make a tiny bit of difference.

[AtW]

I blame the condems

condoms

If they were any good we would not have to put up with those deflationary types...

[SueEllen]

I blame the condems

[DimPrawn]

Bank raises base rate to 5%