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Interest rate rise at noon


spunko

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1 hour ago, spunko2010 said:

Going to call it now I think finally they'll be raised by 0.25%. 

 

Anyone else want to have a punt?

Seems the "neutral" media have been briefed already and the city boys knew days ago no doubt. If they don't change I'll eat my hat.

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The LIBOR / LIBID curves have priced it in; it's happening but per Andrew Sentance (ex MPC member) you can't read anything into this with regard to inflation / growth expectations.

It's purely an admiision by Lurch that the economic doom that him and his matey boy Osborne talked up if we voted Brexit didn't happen so they're shamefacedly sneaking out the reversal of that "emergency" 0.25% cut. 

Mark Carney

lurch4.jpg

Lurch

mark-carney-boe.jpg

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Oh goody.  All that extra interest on savings. What to do?  

It is only going up to where it was before chicken little said the sky was going to fall in after brexit.  

Emergency interest rates at record lows.  For 10 years now.

I'm really suprised that they have managed to keep the wheels falling off this long.  

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3 hours ago, spunko2010 said:

Going to call it now I think finally they'll be raised by 0.25%. 

 

Anyone else want to have a punt?

Who cares?

40 minutes ago, Frank Hovis said:

The LIBOR / LIBID curves have priced it in; it's happening but per Andrew Sentance (ex MPC member) you can't read anything into this with regard to inflation / growth expectations.

It's purely an admiision by Lurch that the economic doom that him and his matey boy Osborne talked up if we voted Brexit didn't happen so they're shamefacedly sneaking out the reversal of that "emergency" 0.25% cut. 

Mark Carney

lurch4.jpg

Lurch

mark-carney-boe.jpg

Cunt.

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22 minutes ago, spunko2010 said:

Me - I want them to go up to 5%. :ph34r:

10% would be even funner. Imagine the malinvestment that would be flushed down the shitter if that happened.xD

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3 minutes ago, NTB said:

10% would be even funner. Imagine the malinvestment that would be flushed down the shitter if that happened.xD

Instant HPC!

There would be many casulaties; the Councils that have been borrowing vast amounts to become commercial property investors will be catching a huge cold.  Not that their rates iwll go up instantly but firstly their investment would plummet in value and then their borrowings would need to be refinanced as they fell due; zipping up from 4% to 10%+.

It would be an economic disaster whereas it wouldn't have been in the past (any time pre Blair / Brown / Greenspan); which shows how dependent so many sectors have become upon cheap money.

30 minutes ago, spunko2010 said:

Me - I want them to go up to 5%. :ph34r:

I've always seen 5% as the long term average, sometimes down to near zero, sometimes up to 10, more usually moving in the 3 - 7 band, but with 5% as the "normal" rate.

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Oh yes, it would be carnage with much wailing and knashing of teeth, for maybe a year. Then things would recover and life would be that bit less ponzi and all the better for it.

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27 minutes ago, Frank Hovis said:

Confirmed quarter point "emergency" cut unwound to return rates to 0.5%.

Unwound to emergency level.

I noticed TOS has crashed.

I expect the count is going crazy typing away about Rate rises....

Righto back to important things, did anyone notice Bitcoin hit 7350 USD :)

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5 minutes ago, Green Devil said:

Unwound to emergency level.

I noticed TOS has crashed.

I expect the count is going crazy typing away about Rate rises....

Righto back to important things, did anyone notice Bitcoin hit 7350 USD :)

It seems like a bubble to me but if not I anyway stick to my usual rule of not investing in something I don't understand.  Maybe it will go to $100,000; no idea.

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My fixed rate ends January, currently 3.99. started looking for a better deal and managed to secure 1.74 for 5 years on Monday in preparation for this suspected rise. Have been overpaying £550 a month and managed to get to a better LTV too. Payments down nearly £300 so intend to keep paying original amount plus the extra £550 on top as there's little point in saving it. 

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48 minutes ago, spunko2010 said:

Oh yeah, that's funny

A crash ..... but not the sort of crash they were hoping for still I am sure that the TOS will see this as a sign from God.

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Great news!!! :) Perhaps a bit too soon for me to ditch the Stocks & Shares ISA for a cash one.

Was discussing this with a friend last weekend. He's a bit pee'd off with the likely outcome because he cannot remortgage for a few months. Not that I'm too sympathetic as I'm sure he makes a lot more money than I do.

Is the end of the Neoliberal economic model nigh?

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11 minutes ago, UmBongo said:

Great news!!! :) Perhaps a bit too soon for me to ditch the Stocks & Shares ISA for a cash one.

Was discussing this with a friend last weekend. He's a bit pee'd off with the likely outcome because he cannot remortgage for a few months. Not that I'm too sympathetic as I'm sure he makes a lot more money than I do.

Is the end of the Neoliberal economic model nigh?

Great news, if you have £100,000 in savings the extra 0.25% will get you an extra 70p per day .... don't spend it all at once.

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16 minutes ago, Chewing Grass said:

Its buzzin on TOS, its like the awakening of the dead.

The Guardianistas are in fucking frenzy, soft arse idiots.

I'm a bit meh about it, when I took out my mortgage interest rates were around 8%.

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25 minutes ago, satch said:

Great news, if you have £100,000 in savings the extra 0.25% will get you an extra 70p per day .... don't spend it all at once.

That's assuming the rate increase gets passed on to savers - I'm not holding my breath.

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Another 10 years at 0.5%?

It'll be interesting to see what they do in the US in the next few months - they've gone up quite a bit on the quiet in the last year or so. They seem to have fair raced ahead with the UK lagging behind of course due to its perpetually flatlining moribund economy.

Interestingly the UK has followed the US after about one year which some would say is typical.  It remains to be seen if rates will similarly continue to trend up now like in the US. 

At this point I wouldn't like to bet against it.

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7 minutes ago, twocents said:

Another 10 years at 0.5%?

It'll be interesting to see what they do in the US in the next few months - they've gone up quite a bit on the quiet in the last year or so. They seem to have fair raced ahead with the UK lagging behind of course due to its perpetually flatlining moribund economy.

Interestingly the UK has followed the US after about one year which some would say is typical.  It remains to be seen if rates will similarly continue to trend up now like in the US.

https://www.bloomberg.com/news/articles/2017-11-02/pound-falls-gilts-up-as-boe-rate-hike-fuels-one-and-done-bets

Ohh the pain.

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