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Fischer

Interest rates UP!

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4 minutes ago, Malthus said:

Lets blame Brexit 

The Guardian headline is being written as we speak. The weird thing is that it's been so long since the crash that just about everyone seems to have forgotten that ultra-low interest rates are actually a really bad thing.

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Voting was 9-0 which I didn't expect. Hopefully that will send a signal to markets of more to come despite BOE saying yah yah that's it for the foreseeable. 

Must have been priced in though as I was hoping pound would strengthen for my holidays but not moved at all. 

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How depressing. Not because they've gone up, but because it was so painfully obvious that the government had already briefed the media before it took place, days ago. And presumably all their City friends.

I have merged this thread into the one in the Property & Economy subforum. Actually no I haven't I've merged it the other way, it's now in Off Topic. Sorry for that :ph34r:

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1 minute ago, spunko2010 said:

How depressing. Not because they've gone up, but because it was so painfully obvious that the government had already briefed the media before it took place, days ago. And presumably all their City friends.

I received a notification from a building society within minutes of 12.00pm indicating implications and options for mortgagees and savers. Of course, you could argue that they had sensibly, prepared letters and web pages for both scenarii

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6 minutes ago, Funn3r said:

Voting was 9-0 which I didn't expect. Hopefully that will send a signal to markets of more to come despite BOE saying yah yah that's it for the foreseeable. 

Must have been priced in though as I was hoping pound would strengthen for my holidays but not moved at all

Which shows it was too little, too late.

BoE is a price taker. Should have moved ahead of th FED. No they are playing catch up.

BoE base rates have always been 0.5%/1% higher than the FED - for good reason too.

Post Gordy, with UKGV debt heading for ~100% of GDP and 10m imported benefit seekers, the BoE/FED spread needs to move towards more developing country levels

Argentina rates are 40%

Turkish rates - 16.5%

 

 

7 minutes ago, JackieO said:

Wonder how the mumsnetters are doing!

 

Youll get kicked out of the ssisterhood.

 

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3 minutes ago, Hopeful said:

I received a notification from a building society within minutes of 12.00pm indicating implications and options for mortgagees and savers. Of course, you could argue that they had sensibly, prepared letters and web pages for both scenarii

Second half of an inheritance came through yesterday and I paid off most of the mortgage!

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17 minutes ago, Funn3r said:

Voting was 9-0 which I didn't expect. Hopefully that will send a signal to markets of more to come despite BOE saying yah yah that's it for the foreseeable. 

Must have been priced in though as I was hoping pound would strengthen for my holidays but not moved at all. 

Theyve got their ducks in a row, excuses to the ready......all together now BRRRRRRRRRREXIIIIIIIIT!!!

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Will have to make sure not to watch the news today as i cant stand the So-Called BBC with some fukwits whining about their mortgage going up 15GBP a month as if its going to destroy them.

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33 minutes ago, Fischer said:

They've done it.

I presume it's only so they can drop them again in the near future.

My thoughts exactly. We must be well overdue a cyclical recession by now, so better have a bit of room in hand to drop them again. Ironically, whilst I don't see a piddling rise like this as being likely to cause a recession, it is likely to further dampen activity in the housing market, which ultimately might have the same effect.

Don't forget also that after Carney jumped at the chance to drop to 0.25% the morning after the referendum, today's vote represents a only a 0.25% increase over where we should have been. Hardly momentous.

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2 minutes ago, Fully Detached said:

My thoughts exactly. We must be well overdue a cyclical recession by now, so better have a bit of room in hand to drop them again. Ironically, whilst I don't see a piddling rise like this as being likely to cause a recession, it is likely to further dampen activity in the housing market, which ultimately might have the same effect.

Don't forget also that after Carney jumped at the chance to drop to 0.25% the morning after the referendum, today's vote represents a only a 0.25% increase over where we should have been. Hardly momentous.

waiting to see how they reason Carney dropping rates becasue of the referendum, then rasing them because of brexit.

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5 minutes ago, Banned said:

Will have to make sure not to watch the news today as i cant stand the So-Called BBC with some fukwits whining about their mortgage going up 15GBP a month as if its going to destroy them.

I spotted a flaw in your plan. Thought i should let you know.

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