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Interest rate cut?
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By (user no longer on site) OP
over a year ago
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Will interest rates be cut today?
Speculation is a quarter percent drop is very likely.
I think it won't happen and certainly shouldn't!
A quarter percent cut will not be a boost to the economy....but it will send a signal to the markets that the BoE is starting to panic.....and given the recent economic data there is no reason to do this. Will be interesting to watch this space! |
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If an interest rate reduction was going to work, it would have done by now. It will make no difference. It's not the cost of borrowing money that is the issue, it's not spending via consumers or investment due to uncertainty. The faster a proper decision is made about leaving the EU and doing it, the better the economy will grow as uncertainty will have gone. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Will interest rates be cut today?
Speculation is a quarter percent drop is very likely.
I think it won't happen and certainly shouldn't!
A quarter percent cut will not be a boost to the economy....but it will send a signal to the markets that the BoE is starting to panic.....and given the recent economic data there is no reason to do this. Will be interesting to watch this space!"
the only thing that surprised me is that the BoE didn't do this last month....
basically it sends the message out to big business and the banks... to major business that its not worth you pulling back investments... and to the banks there is no point in not giving out money... |
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By (user no longer on site)
over a year ago
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"Why don't we just go the whole hog and follow DFS... 4 years interest free and nothing to pay for 12 months 
Cause usually after 18months the initially cheap suite is buggered anyway!! "
My mum buys from dfs..her last one at ten years old looked so good the guy buying it said it's like new.. it was the |
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By *anky_PankyWoman
over a year ago
Filthy Fuckeryville |
"Why don't we just go the whole hog and follow DFS... 4 years interest free and nothing to pay for 12 months
Cause usually after 18months the initially cheap suite is buggered anyway!!
My mum buys from dfs..her last one at ten years old looked so good the guy buying it said it's like new.. it was the "
Did you get a job there too? |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"
Still, the mortgage won't be a smidgen cheaper  "
not for most..... most mortgages have a interest rate floor so once it gets below a certain level its not passed on....
when i bought my house that floor was 1.5%.... when i bought mine interest rates were closer to 5% so i saved a shedload buy the time i finished paying for it last year.....
anyway... the more interesting thing the BoE have done is they are now using QE money to buy 60bn of government debt.... what that does is in effect lower the bonds and gilts interest rates so people aren't as inclined and tempted to put money there rather than banks....
they really are turning the screw on banks and big companies
also as interesting, they are also spending 10 billion in corperate debt, in effect giving companies money......
something they have never done...
so the question for business is do they use that money and invest it.... as they bank is desperately wanting them to... or do they basically use that money to in effect buy back shares in their own companies.... |
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"So how much did we pay to the EU per year? £13 billion per year? And in one swoop we have just spent £60 billion to save ourselves £13. What a fantastic saving!  "
But in a brexiters mind that makes economic sense..just see how many will be defending it !! |
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By *abioMan
over a year ago
Newcastle and Gateshead |
just watching the mark carney presser at the BoE now... its fascinating to see what they think will happening in the next 2-3 years now....
will try and post a recap at the end.... |
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By *abioMan
over a year ago
Newcastle and Gateshead |
okay... that was technical.. but my basic understanding...
basically what they are trying to do is a few things....
because over half of people now have variable mortgages and business have bigger bank loans.... it will put a bit of money in pockets... however with the lower rate and the 60 bil in gov bonds and gilts.. they are disuading people for putting that money away....
the bank to bank storing and lending rates is so small you might as give it to business to invest than store, and if the inclination is to store they have by law to invest a certain amount anyway....
inflation is going to rise higher than expected....
unemployment rates are going to rise....
basically they are opening the credit lines further....
trying to stop recession before it starts but growth will slow down |
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By (user no longer on site)
over a year ago
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".
so the question for business is do they use that money and invest it.... as they bank is desperately wanting them to... or do they basically use that money to in effect buy back shares in their own companies...."
.
This is something I've been talking about for ages now....
The idea of trickle down economics was finished years ago, yet still we persist with this notion... The money is flowing up not down, zero percent interest rates enable that act better than ever.
You only have to look at apples corporate debt level over the last few years to see where the money is going! |
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By (user no longer on site)
over a year ago
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Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim ..... |
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By (user no longer on site)
over a year ago
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"okay... that was technical.. but my basic understanding...
basically what they are trying to do is a few things....
because over half of people now have variable mortgages and business have bigger bank loans.... it will put a bit of money in pockets... however with the lower rate and the 60 bil in gov bonds and gilts.. they are disuading people for putting that money away....
the bank to bank storing and lending rates is so small you might as give it to business to invest than store, and if the inclination is to store they have by law to invest a certain amount anyway....
inflation is going to rise higher than expected....
unemployment rates are going to rise....
basically they are opening the credit lines further....
trying to stop recession before it starts but growth will slow down"
.
Their only move left now is a cashless economy because interest rates will go negative soon and nobody is going to pay the bank to keep their lolly...
The next bank crises will not be high St banks or brokers or investment banks it will be central banks!!.
Brexit was never about trade or wars or free movement.... it was about holding on to the global economy, it's going into melt down |
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By (user no longer on site)
over a year ago
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The irony is that Carney and the BoE really got the problems of ZIRP and NIRP better than most yelland is fucking deluded along with Mario duschbag ... Let's see how China and Japan react,i suspect Abe will go even lower |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim ..... "
this is going to come as a bit of a surprise to you.... not.... i disagree with you a bit here.....
I think if you end up reading the minutes of the BoE meeting, i think it shows a shift in policy.... namely they are going to trying and keep the employment rate down, at the expense of the exchange rate and the inflation target for now...
savers are going to complain, but his rationale is going to be if you have now job, you have nothing to save....
not the sort of fiscal stimulas i was expecting, because he is putting a lot of onus on backs to pass a lot of this on.... i would have liked the american style stimulas from a selfish point of view, because it puts money in my pockets and lets me make the decision as to what to do with it...
but with the growth forcast slashed to bits now (0.8% as opposed to 2.3% pre vote) and the inflation rate rising (from 2.1 to 2.6%)
remember that anything over 2% means he has to write to chancellor explaining why, this would have to have been in effect signed off by the new post brexit chancellor.... |
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By *LCCCouple
over a year ago
Cambridge |
I hope that this will finally be proof to the Brexiters that Brexit is bad for the economy. Of course I have no doubt in my mind that they will argue the opposite to their dying breath. |
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By *LCCCouple
over a year ago
Cambridge |
"Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim ..... "
I think perhaps you are a little paranoid about Markit just because they are producing data that you don't like.
Markit are in the information business, they are not traders so I doubt they are buying or selling Sterling as you suggest. Do you really think that a single company is big enough to influence the Bank of England?
Mark Carney said that these kinds of measures would be taken in the event of a Brexit vote. Brexiters decided to ignore him and thought/think that they know more about the economy than he does. |
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By (user no longer on site)
over a year ago
|
"I hope that this will finally be proof to the Brexiters that Brexit is bad for the economy. Of course I have no doubt in my mind that they will argue the opposite to their dying breath. "
.
I don't think it's something that's either bad or good, what you've actually done is remove/change a large part of how you did business, obviously that will have connotations either way about how you go forward.... It's like saying paying higher taxes will be good/bad for the economy, the reality is one thing could do both depending on circumstances.
If cutting interest rates was only about brexit.... Then why the hell is the EU, Japan, Australia, Canada doing it?.
Are they all dammed by brexit as well?.
The truth is 50 trillion of trade can't repay 220 trillion of debt.... Sooner or later their going to have write some debt off, it's the thing they really really don't want to do as the scheme is a bit like kaplunk.... You pull the wrong straw and the whole thing goes tits up |
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By (user no longer on site)
over a year ago
|
"Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim .....
this is going to come as a bit of a surprise to you.... not.... i disagree with you a bit here.....
I think if you end up reading the minutes of the BoE meeting, i think it shows a shift in policy.... namely they are going to trying and keep the employment rate down, at the expense of the exchange rate and the inflation target for now...
savers are going to complain, but his rationale is going to be if you have now job, you have nothing to save....
not the sort of fiscal stimulas i was expecting, because he is putting a lot of onus on backs to pass a lot of this on.... i would have liked the american style stimulas from a selfish point of view, because it puts money in my pockets and lets me make the decision as to what to do with it...
but with the growth forcast slashed to bits now (0.8% as opposed to 2.3% pre vote) and the inflation rate rising (from 2.1 to 2.6%)
remember that anything over 2% means he has to write to chancellor explaining why, this would have to have been in effect signed off by the new post brexit chancellor...."
Well I agree with your analysis. Shock I know but I was offering an additional view as to how this is all being used by traders to make markets. Its what they do and I am actually OK with it. And we really do need to get away from 'forecasts' as they now have zero credibility. Only yesterday many sectors were saying 'crisis what crisis/@... and one of the biggest car dealers was saying its business as usual. Even the SMMT is now saying car sales are way up on last year. And the imported brands a re swallowing the extra currency costs to keep business.
My big criticism of Carney is that a) he got involved in Project Fear and as a public servant (indeed a Civil Servant) he was duty bound to keep quiet and b) now he has to either make things better and prove himself wrong or make things worse to prove himself right. It doesn't fill me with confidence.
And if he was after cutting interest rates he should have done it earlier when he had the chance. Hence why I think the markets 'bounced' him. At the moment every time he opens his mouth Sterling takes a dive. Which can be as good as it is bad but its a fact. |
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By (user no longer on site)
over a year ago
|
"Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim .....
I think perhaps you are a little paranoid about Markit just because they are producing data that you don't like.
Markit are in the information business, they are not traders so I doubt they are buying or selling Sterling as you suggest. Do you really think that a single company is big enough to influence the Bank of England?
Mark Carney said that these kinds of measures would be taken in the event of a Brexit vote. Brexiters decided to ignore him and thought/think that they know more about the economy than he does. "
I was adding another context to the situation. It was not an absolute comment. Please do try to distinguish between the two. They make money out of change by selling information and 'solutions'. Go read the 'IHS Markit' website. And if you think those using inside knowledge don't 'trade' you are very naive ..
But two comments from the BBC 'Live' on today's events:
12:25 Stock Market Surges
The FTSE 100 has bounced 1.2% higher to 6,714 points, while the FTSE 250 is almost 1% higher at 17,158 points in the wake of the Bank of England action.
12:31 Briefing begins
Mark Carney has begun his press conference. Talking of Brexit, he says: "The UK can handle change, it has one of the most flexible economies in the world." |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"
12:31 Briefing begins
Mark Carney has begun his press conference. Talking of Brexit, he says: "The UK can handle change, it has one of the most flexible economies in the world.""
he did.... but then you have been a bit naughty/disengenious by leaving out the rest... (i'll let you decide)
he then went on the say that the growth forecast for GDP had been revised downwards sharply.. that the inflation target had been revised upwards..... and that the unemployment rate had been revised upwards...... |
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By *LCCCouple
over a year ago
Cambridge |
"I hope that this will finally be proof to the Brexiters that Brexit is bad for the economy. Of course I have no doubt in my mind that they will argue the opposite to their dying breath. .
I don't think it's something that's either bad or good, what you've actually done is remove/change a large part of how you did business, obviously that will have connotations either way about how you go forward.... It's like saying paying higher taxes will be good/bad for the economy, the reality is one thing could do both depending on circumstances.
If cutting interest rates was only about brexit.... Then why the hell is the EU, Japan, Australia, Canada doing it?.
Are they all dammed by brexit as well?.
The truth is 50 trillion of trade can't repay 220 trillion of debt.... Sooner or later their going to have write some debt off, it's the thing they really really don't want to do as the scheme is a bit like kaplunk.... You pull the wrong straw and the whole thing goes tits up"
You don't think that have to commit £70 billion of QE or slashing growth rates from 2.3% to 0.8% is bad? |
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"Without biting at the 'Brexit Bait' hung out by the usual suspects the question that needs to be asked is the role 'Markit' have played recently. Since the B of E didn't reduce rates last time (and Sterling strengthened) this private company have issued a 'Flash' warning (never done before) and then two weeks later (so why the 'Flash one) issue another warning. Their purpose? To 'make a market' and generate business for themselves. They let the cat out of the bag two days ago when their 'economist' said 'Interest rate reduction is a foregone conclusion'.
So. A Private Company sells Sterling high for Dollars and then bounces the B of E into a rate reduction with dire warnings from 600 people which drops Sterling value. Markit then buy back Sterling low and pocket the profits in Dollars. And make more money from selling their 'detaile advice'.
These people are not independent or Government or regulated forecasters. They are a private company manipulating the situation for their own profit.
Its Capitalism Jim .....
I think perhaps you are a little paranoid about Markit just because they are producing data that you don't like.
Markit are in the information business, they are not traders so I doubt they are buying or selling Sterling as you suggest. Do you really think that a single company is big enough to influence the Bank of England?
Mark Carney said that these kinds of measures would be taken in the event of a Brexit vote. Brexiters decided to ignore him and thought/think that they know more about the economy than he does.
I was adding another context to the situation. It was not an absolute comment. Please do try to distinguish between the two. They make money out of change by selling information and 'solutions'. Go read the 'IHS Markit' website. And if you think those using inside knowledge don't 'trade' you are very naive ..
But two comments from the BBC 'Live' on today's events:
12:25 Stock Market Surges
The FTSE 100 has bounced 1.2% higher to 6,714 points, while the FTSE 250 is almost 1% higher at 17,158 points in the wake of the Bank of England action.
12:31 Briefing begins
Mark Carney has begun his press conference. Talking of Brexit, he says: "The UK can handle change, it has one of the most flexible economies in the world.""
And the Pound continues to fall ..saying an economy can handle it doesn't avoid the impending UK recession..when will the brexiters learn .. |
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By *isandreTV/TS
over a year ago
Hartlepool |
"
My big criticism of Carney is that a) he got involved in Project Fear and as a public servant (indeed a Civil Servant) he was duty bound to keep quiet
"
No, he didn't, he was fulfilling a statutory responsibility. |
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By (user no longer on site)
over a year ago
|
"
My big criticism of Carney is that a) he got involved in Project Fear and as a public servant (indeed a Civil Servant) he was duty bound to keep quiet
No, he didn't, he was fulfilling a statutory responsibility. "
no he wasn't. But either way that worked well didn't it?
I bet he wished he'd kept his mouth shut |
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By (user no longer on site)
over a year ago
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"I hope that this will finally be proof to the Brexiters that Brexit is bad for the economy. Of course I have no doubt in my mind that they will argue the opposite to their dying breath. .
I don't think it's something that's either bad or good, what you've actually done is remove/change a large part of how you did business, obviously that will have connotations either way about how you go forward.... It's like saying paying higher taxes will be good/bad for the economy, the reality is one thing could do both depending on circumstances.
If cutting interest rates was only about brexit.... Then why the hell is the EU, Japan, Australia, Canada doing it?.
Are they all dammed by brexit as well?.
The truth is 50 trillion of trade can't repay 220 trillion of debt.... Sooner or later their going to have write some debt off, it's the thing they really really don't want to do as the scheme is a bit like kaplunk.... You pull the wrong straw and the whole thing goes tits up
You don't think that have to commit £70 billion of QE or slashing growth rates from 2.3% to 0.8% is bad? "
.
It depends on what growth your getting to get the 2.3%.... so if your ploughing money into houses and forcing prices high so that people are then forced to rent, then no I don't think that's bad when it gets revised down to 0.8%.
QE is effectively moving bad bank debts from high St bank books to central bank books, that's why technically you can print it without effect, so your not really committing "money" perse.
Personally I'd rather see QE going to people in the form of tax credits, you could stipulate that debts had to be paid off first with it(therefore doing the same job as what there doing now) or if you haven't got debt you get to spend it, therefore giving you instant stimulation without worrying about whether the banks will "lend it out".
In a perfect world I'd rather see companies, industries and people who've been reckless with their decisions to go bust.... It's an important life lesson for some |
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"I hope that this will finally be proof to the Brexiters that Brexit is bad for the economy. Of course I have no doubt in my mind that they will argue the opposite to their dying breath. .
I don't think it's something that's either bad or good, what you've actually done is remove/change a large part of how you did business, obviously that will have connotations either way about how you go forward.... It's like saying paying higher taxes will be good/bad for the economy, the reality is one thing could do both depending on circumstances.
If cutting interest rates was only about brexit.... Then why the hell is the EU, Japan, Australia, Canada doing it?.
Are they all dammed by brexit as well?.
The truth is 50 trillion of trade can't repay 220 trillion of debt.... Sooner or later their going to have write some debt off, it's the thing they really really don't want to do as the scheme is a bit like kaplunk.... You pull the wrong straw and the whole thing goes tits up
You don't think that have to commit £70 billion of QE or slashing growth rates from 2.3% to 0.8% is bad? .
It depends on what growth your getting to get the 2.3%.... so if your ploughing money into houses and forcing prices high so that people are then forced to rent, then no I don't think that's bad when it gets revised down to 0.8%.
QE is effectively moving bad bank debts from high St bank books to central bank books, that's why technically you can print it without effect, so your not really committing "money" perse.
Personally I'd rather see QE going to people in the form of tax credits, you could stipulate that debts had to be paid off first with it(therefore doing the same job as what there doing now) or if you haven't got debt you get to spend it, therefore giving you instant stimulation without worrying about whether the banks will "lend it out".
In a perfect world I'd rather see companies, industries and people who've been reckless with their decisions to go bust.... It's an important life lesson for some"
I like your reckless with their decision's to go bust being an important lesson in life comment .think it will fit the uk'S BREXIT decision well... |
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By *oo hotCouple
over a year ago
North West |
The UK economy sleepwalks into meltdown post Brexit ref and although blindingly obvious to all why... It is still too politically sensitive to tell it the way it is.
This shit will slowly continue in to 2017 until the 17 million get punch d*unk enough with reality to realise that they may have been a tad hasty blaming the ills of the world on the EU. Cue - a far more reasoned and educated debate as to what the EU really means for the UK and an abandonment of the Article 50 process (if started) or a vote in Parliament to reject it.
End result - Brexit vote caused 10-12 m,onths of economic mayhem, cost the country hundreds of billions and by mid 2017 we are still in the EU and not going anywhere.
PS - The Independant has been saying this for a few weeks now. |
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By (user no longer on site)
over a year ago
|
"The UK economy sleepwalks into meltdown post Brexit ref and although blindingly obvious to all why... It is still too politically sensitive to tell it the way it is.
This shit will slowly continue in to 2017 until the 17 million get punch d*unk enough with reality to realise that they may have been a tad hasty blaming the ills of the world on the EU. Cue - a far more reasoned and educated debate as to what the EU really means for the UK and an abandonment of the Article 50 process (if started) or a vote in Parliament to reject it.
End result - Brexit vote caused 10-12 m,onths of economic mayhem, cost the country hundreds of billions and by mid 2017 we are still in the EU and not going anywhere.
PS - The Independant has been saying this for a few weeks now."
Well maybe according to 'forecasts' and doom and gloom merchants like yourself who wish to bathe in the Schadenfreude of failure. But not according to economic facts. How many people have actually lost their jobs? Have car sales dropped off? Have mortgages dried up? Has the FTSE dived? No. The only thing that has changed since June 24th is the Pound has fallen about 10% Trade Weighted. Which is as good as it is bad.
And please don't quote the Independent. It is distinctly un-independent in thought or policy. |
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"The UK economy sleepwalks into meltdown post Brexit ref and although blindingly obvious to all why... It is still too politically sensitive to tell it the way it is.
This shit will slowly continue in to 2017 until the 17 million get punch d*unk enough with reality to realise that they may have been a tad hasty blaming the ills of the world on the EU. Cue - a far more reasoned and educated debate as to what the EU really means for the UK and an abandonment of the Article 50 process (if started) or a vote in Parliament to reject it.
End result - Brexit vote caused 10-12 m,onths of economic mayhem, cost the country hundreds of billions and by mid 2017 we are still in the EU and not going anywhere.
PS - The Independant has been saying this for a few weeks now.
Well maybe according to 'forecasts' and doom and gloom merchants like yourself who wish to bathe in the Schadenfreude of failure. But not according to economic facts. How many people have actually lost their jobs? Have car sales dropped off? Have mortgages dried up? Has the FTSE dived? No. The only thing that has changed since June 24th is the Pound has fallen about 10% Trade Weighted. Which is as good as it is bad.
And please don't quote the Independent. It is distinctly un-independent in thought or policy."
There are no reports to support your fantasy and yes manufacturing is shrinking for brexiters that's getting smaller !!! |
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By (user no longer on site)
over a year ago
|
"
12:31 Briefing begins
Mark Carney has begun his press conference. Talking of Brexit, he says: "The UK can handle change, it has one of the most flexible economies in the world."
he did.... but then you have been a bit naughty/disengenious by leaving out the rest... (i'll let you decide)
he then went on the say that the growth forecast for GDP had been revised downwards sharply.. that the inflation target had been revised upwards..... and that the unemployment rate had been revised upwards......"
With respect I was quoting the BBC timelines in full ... Go take a look yourself:
http://www.bbc.co.uk/news/live/business-36924098
Here are extracts from tow of the latest (I have left out the graphs):
16:53 FTSE ends up after rate cut
The FTSE 100 closed up 101.89 points at 6736.29. [1.6%]
However, the pound was 1.4% down against the dollar at $1.31.
16:19 Record low gilt yields
Government borrowing is down as well U.K. 30yr gilt yield below 1.5% for the first time ever. |
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By (user no longer on site)
over a year ago
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"The UK economy sleepwalks into meltdown post Brexit ref and although blindingly obvious to all why... It is still too politically sensitive to tell it the way it is.
This shit will slowly continue in to 2017 until the 17 million get punch d*unk enough with reality to realise that they may have been a tad hasty blaming the ills of the world on the EU. Cue - a far more reasoned and educated debate as to what the EU really means for the UK and an abandonment of the Article 50 process (if started) or a vote in Parliament to reject it.
End result - Brexit vote caused 10-12 m,onths of economic mayhem, cost the country hundreds of billions and by mid 2017 we are still in the EU and not going anywhere.
PS - The Independant has been saying this for a few weeks now.
Well maybe according to 'forecasts' and doom and gloom merchants like yourself who wish to bathe in the Schadenfreude of failure. But not according to economic facts. How many people have actually lost their jobs? Have car sales dropped off? Have mortgages dried up? Has the FTSE dived? No. The only thing that has changed since June 24th is the Pound has fallen about 10% Trade Weighted. Which is as good as it is bad.
And please don't quote the Independent. It is distinctly un-independent in thought or policy.
There are no reports to support your fantasy and yes manufacturing is shrinking for brexiters that's getting smaller !!!"
You just quoted a Markit 'forecast'. Congratulations on confusing a forecast with events. |
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By (user no longer on site)
over a year ago
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Breaking news:
UK industry falls back into recession!
Factory output was down in two consecutive quarters as the steel crisis helped drag down the sector’s overall output.
Factual reporting from the Guardian.
https://www.theguardian.com/business/2016/may/11/uk-manufacturing-sector-falls-back-into-recession-steel
Oh wait sorry ...  My bad this was from May 11th this year... |
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By *oo hotCouple
over a year ago
North West |
"....
Well maybe according to 'forecasts' and doom and gloom merchants like yourself who wish to bathe in the Schadenfreude of failure. But not according to economic facts. How many people have actually lost their jobs? Have car sales dropped off? Have mortgages dried up? Has the FTSE dived? No. The only thing that has changed since June 24th is the Pound has fallen about 10% Trade Weighted. Which is as good as it is bad.
And please don't quote the Independent. It is distinctly un-independent in thought or policy."
So why cut rates? why talk about QE?
Carney is being prudent in trying to shore up the defences in anticipation of what is coming. He is quite right not to wait until the shit hits the fan before reacting. |
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"Breaking news:
UK industry falls back into recession!
Factory output was down in two consecutive quarters as the steel crisis helped drag down the sector’s overall output.
Factual reporting from the Guardian.
https://www.theguardian.com/business/2016/may/11/uk-manufacturing-sector-falls-back-into-recession-steel
Oh wait sorry ... My bad this was from May 11th this year... "
Such a sad story to try and back up you're fanciful idea that UK plc is doing well post referendum...but I guess you cant because there aren't any |
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By *LCCCouple
over a year ago
Cambridge |
I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”? |
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By (user no longer on site)
over a year ago
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”? "
lets pretend for 1 minute that this is the case.
What's the problem? |
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By (user no longer on site)
over a year ago
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"Breaking news:
UK industry falls back into recession!
Factory output was down in two consecutive quarters as the steel crisis helped drag down the sector’s overall output.
Factual reporting from the Guardian.
https://www.theguardian.com/business/2016/may/11/uk-manufacturing-sector-falls-back-into-recession-steel
Oh wait sorry ... My bad this was from May 11th this year...
Such a sad story to try and back up you're fanciful idea that UK plc is doing well post referendum...but I guess you cant because there aren't any "
I see irony is lost on you but never mind. The irony being that the UK manufacturing has had, lets say, a very chequered past and was in a small decline before the Brexit vote. To try and blame any decline on Brexit is just plain wrong.
As I said in detail fact (not forecasts) what has changed?
And do please help me on another matter: You equate those of us voting to leave the EU as 'scabs' in Trade Union terms so what do we call someone who has voted with his feet to leave the country?
In Trade Union terms ....?? |
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By (user no longer on site)
over a year ago
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”? "
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss... |
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By *LCCCouple
over a year ago
Cambridge |
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss... "
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy? |
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss... "
And who is forecasting utopia post referendum ...all forecasts are in the downward direction that means the UK will be doing worse as a result of the referendum ..its so simple |
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By (user no longer on site)
over a year ago
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And who is forecasting utopia post referendum ...all forecasts are in the downward direction that means the UK will be doing worse as a result of the referendum ..its so simple "
Somewhere between 'Utopia' and 'Doom' there is reality. And that is where I and most people actually are.
And there you go with that magic word 'forecast' that can mean anything you like. It means nothing as they are opinions. As I said to people who WANT our country to fail doom and gloom is a wonderful thing. To the rest of us we want the country to succeed and feel that leaving the failing EU is the best way to achieve that success.
Here is a tip: Always look who is making the forecasts and why they are doing it... |
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By (user no longer on site)
over a year ago
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?"
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING. |
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By *LCCCouple
over a year ago
Cambridge |
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And who is forecasting utopia post referendum ...all forecasts are in the downward direction that means the UK will be doing worse as a result of the referendum ..its so simple
Somewhere between 'Utopia' and 'Doom' there is reality. And that is where I and most people actually are.
And there you go with that magic word 'forecast' that can mean anything you like. It means nothing as they are opinions. As I said to people who WANT our country to fail doom and gloom is a wonderful thing. To the rest of us we want the country to succeed and feel that leaving the failing EU is the best way to achieve that success.
Here is a tip: Always look who is making the forecasts and why they are doing it..."
Maybe you should try reading this article:
http://www.telegraph.co.uk/business/2016/06/21/in-defence-of-experts-whether-they-support-leave-or-remain/
"it is another thing again to insouciantly damn all experts and to breezily undermine the integrity of institutions, something which veers dangerously close to anti-intellectualism. This is to side with the irrational over the rational, with homeopathy over medicine, and with astrology over astronomy"
"It is postmodern politics. It denies that there is any such thing as an objective truth. It suggests that facts can go hang. It permits relativism to let rip and damn the consequences."
"The British economy had the slowest growth rate among the G7 group of rich countries before joining the EU and the fastest since. That is a fact. Is it rendered irrelevant if I personally don’t feel better off?
EU migrants contribute more to the UK public coffers than they extract. That is a fact. Is it rendered irrelevant if I can’t get my children into the local school, or my mate has lost his job, or my grandmother had to wait three hours at an overcrowded surgery to see a doctor?"
"Expertise can breed arrogance and false certainty; specialisms fall prey to group-think. Experts must be challenged and their work robustly interrogated.
But that is very different from attacking evidence merely because it undermines your arguments (something that both Remainers and Leavers have done) and instantly impugning the motives of those who have produced it (ditto).
Don’t like what an expert or an institution is saying? Fine; challenge the research, the methods and the assumptions. But don’t immediately question how it was funded to raise the spectre of bias. The default assumption should be that experts are impartial. Why? Because most are."
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING. "
What has happened is a vote for brexit has put the economy into uncertainty causing a downturn.. |
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By (user no longer on site)
over a year ago
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he? "
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'.... |
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"Will interest rates be cut today?
Speculation is a quarter percent drop is very likely.
I think it won't happen and certainly shouldn't!
A quarter percent cut will not be a boost to the economy....but it will send a signal to the markets that the BoE is starting to panic.....and given the recent economic data there is no reason to do this. Will be interesting to watch this space!"
A quarter of a percent rate cut - is meaningless. It won't help borrowers. It won't help savers. And means that the BoE has no means of countering inflation.
If I had any serious amounts of money - I'd take it out and ut it in my fire safe - and stop the banks making money on it when I'm getting no reward. |
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"Will interest rates be cut today?
Speculation is a quarter percent drop is very likely.
I think it won't happen and certainly shouldn't!
A quarter percent cut will not be a boost to the economy....but it will send a signal to the markets that the BoE is starting to panic.....and given the recent economic data there is no reason to do this. Will be interesting to watch this space!
A quarter of a percent rate cut - is meaningless. It won't help borrowers. It won't help savers. And means that the BoE has no means of countering inflation.
If I had any serious amounts of money - I'd take it out and ut it in my fire safe - and stop the banks making money on it when I'm getting no reward. "
Sure wont its more of a political statement .to try and bolster the unbelievable opinion by the brexit brigade that whilst the economy is shrinking its still ok.. |
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By *oo hotCouple
over a year ago
North West |
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he?
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'...."
Economists, Politicians, Joutnalists and every man, woman and child had opinions on Brexit and it was wise for the brightest and the best to be asked to give their opinion on the likely outcome of a Brexit vote. Carney gave his opinion which is no different today than it was then. He is a highly qualified expert in his field and his forecast was aligned pretty much with 99% of all educated and qualified commentators but as Michael Gove said... "Who cares about experts?" or words to that effect. |
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By *LCCCouple
over a year ago
Cambridge |
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he?
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'....
Economists, Politicians, Joutnalists and every man, woman and child had opinions on Brexit and it was wise for the brightest and the best to be asked to give their opinion on the likely outcome of a Brexit vote. Carney gave his opinion which is no different today than it was then. He is a highly qualified expert in his field and his forecast was aligned pretty much with 99% of all educated and qualified commentators but as Michael Gove said... "Who cares about experts?" or words to that effect."
But HornyAs is this forums self-styled economics expert! I'm sure a van driver knows more than more than a world renowned economist! |
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"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he?
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'....
Economists, Politicians, Joutnalists and every man, woman and child had opinions on Brexit and it was wise for the brightest and the best to be asked to give their opinion on the likely outcome of a Brexit vote. Carney gave his opinion which is no different today than it was then. He is a highly qualified expert in his field and his forecast was aligned pretty much with 99% of all educated and qualified commentators but as Michael Gove said... "Who cares about experts?" or words to that effect.
But HornyAs is this forums self-styled economics expert! I'm sure a van driver knows more than more than a world renowned economist! "
Lol that's the thing with white van man .. opinion on everything and knows precisely nothing |
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"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
"
It might be a VAT cut is on the cards to do something for disposal income ? |
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"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
It might be a VAT cut is on the cards to do something for disposal income ?"
All that would do is increase government borrowing to pay for it ..yet further increasing the UK"s debt |
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"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
It might be a VAT cut is on the cards to do something for disposal income ?
All that would do is increase government borrowing to pay for it ..yet further increasing the UK"s debt"
VAT rate was raised at a time of crisis long past and it could be argued acts as regressive tax and a drag on economic activity |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
It might be a VAT cut is on the cards to do something for disposal income ?
All that would do is increase government borrowing to pay for it ..yet further increasing the UK"s debt
VAT rate was raised at a time of crisis long past and it could be argued acts as regressive tax and a drag on economic activity "
A VAT cut doesn't feel like free money. If everyone received a one off amount into their accounts they would see it as a freebie and therefore disposable.
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By *abioMan
over a year ago
Newcastle and Gateshead |
"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
"
this is the one thing i found out today and am disappointed... that mr carney is not a fan
the technical term for this is "helicopter money"...... and he said this is an option of very last resort.....
he trust the bank rather than us (i think most of us would use it to service debt... be that bills, which actually wouldn't help...) |
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By (user no longer on site)
over a year ago
|
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he?
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'....
Economists, Politicians, Joutnalists and every man, woman and child had opinions on Brexit and it was wise for the brightest and the best to be asked to give their opinion on the likely outcome of a Brexit vote. Carney gave his opinion which is no different today than it was then. He is a highly qualified expert in his field and his forecast was aligned pretty much with 99% of all educated and qualified commentators but as Michael Gove said... "Who cares about experts?" or words to that effect.
But HornyAs is this forums self-styled economics expert! I'm sure a van driver knows more than more than a world renowned economist! "
Again you go for the person with smartarsed and sarcastic comments that are there purely to get an argumentative reaction. But you have failed yet again because we all know what you and your mates are all about. You do not respond to the discussion and when nailed you change the subject or keep trolling out the personal crap. And for the record I am neither an economics expert and neither was I a van driver. But I am as well informed as you or anyone else on here.
Do try harder 'Sweetcheeks'... |
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By (user no longer on site)
over a year ago
|
"I can’t believe that people can’t see that growth of 0.8% is worse than growth of 2.3%, or that having to stimulate the economy through QE is a bad thing. If the economy is doing well, then you don’t have to do QE.
To those of you who don’t think that this is an obvious sign of a negative impact of Brexit on economy, please can you let me know what would cause you to see the negative effect. At what point would say “actually, Brexit has been bad for the economy”?
Oh dear you really cannot work out that a 'forecast' is not a fact can you. It is an opinion. It is not an event or reality. And recently they haven't been worth diddley squat...
And for the record the B of E today was 'forecasting' a loss of 2.5% GDP over the next three years. That is 2.5% LESS than it 'might have been' based on guess what? 'Forecasts' ... again.
So someone gets a forecast wrong, revises it and suddenly for you its a factual loss...
And the £ billions of QE? What was that?
So come on, what would have to happen for you to admit that Brexit has negatively effected the economy?
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
I don't know why you respond to these two - they're losers with nothing of value to say.
Yeah, and that Mark Carney is a massive loser with nothing to say too is he?
Yeah he is actually. He is the first Governor NOT to come up through the B of E ranks. He is a Civil Servant and should NOT have entered into the political discussion pre-Referendum but chose to at the request of Gideon 'Project Fear' bastard in chief. Carney made a serious error of judgement and chose to embellish that Project Fear. We are now in the ludicrous situation that while Gideon has been removed Carney is still in place and is in an impossible position. He 'forecast' (damn that word) economic catastrophe if we left the EU, we chose to leave the EU and now he must do all he can to prove himself wrong! Or maybe screw things up and prove himself right.
This is but one of the fallouts from Project Fear. So many so called experts 'forecast' (damn word) that people are now worried in case its true. When all we have to do is 'Stay Calm and Carry On'. As FDR said: "We have nothing to fear but fear itself" even if that fear is from 'Project Fear'....
Economists, Politicians, Joutnalists and every man, woman and child had opinions on Brexit and it was wise for the brightest and the best to be asked to give their opinion on the likely outcome of a Brexit vote. Carney gave his opinion which is no different today than it was then. He is a highly qualified expert in his field and his forecast was aligned pretty much with 99% of all educated and qualified commentators but as Michael Gove said... "Who cares about experts?" or words to that effect.
But HornyAs is this forums self-styled economics expert! I'm sure a van driver knows more than more than a world renowned economist!
Lol that's the thing with white van man .. opinion on everything and knows precisely nothing "
Oh look its the usual suspects trolling out the personal shite. Try harder I am not biting ... |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
this is the one thing i found out today and am disappointed... that mr carney is not a fan
the technical term for this is "helicopter money"...... and he said this is an option of very last resort.....
he trust the bank rather than us (i think most of us would use it to service debt... be that bills, which actually wouldn't help...)"
I know he's not a fan of it. I think having QE money stuck in the banks means it doesn't spread that far.
Some would spend it to service debt but I think many more would see it as treat time and use it to buy a replacement mattress or have a short holiday or new shoes etc. It would go further and on many more things.
I heard the term helicopter money a few months ago - odd term. I'm sure it had another name years ago but I'm too old and raddled to remember. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"
16:19 Record low gilt yields
Government borrowing is down as well U.K. 30yr gilt yield below 1.5% for the first time ever."
oh dear..... you say that so confidently like it is a brilliant thing.....
you do know why this is don't you.....
it because an entity call the "bank of england" went and bought back about 60 billion in government debt..... what that they does is surpresses the interest rate you get for buying they debt (bonds and gilts)....
if you knew you were going to get less of a return on money... you are less likely as an invester, even thought it is super safe, to put it there... 
pension funds for example are going to put it where you can get a better return.... if you are only going to get 1.5% return on it... its not going there !!! |
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By (user no longer on site)
over a year ago
|
"I think QE would be more effective if Mark Carney just puts £500 in everyone's bank accounts. Most of us would spend it and that would provide some stimulus.
this is the one thing i found out today and am disappointed... that mr carney is not a fan
the technical term for this is "helicopter money"...... and he said this is an option of very last resort.....
he trust the bank rather than us (i think most of us would use it to service debt... be that bills, which actually wouldn't help...)
I know he's not a fan of it. I think having QE money stuck in the banks means it doesn't spread that far.
Some would spend it to service debt but I think many more would see it as treat time and use it to buy a replacement mattress or have a short holiday or new shoes etc. It would go further and on many more things.
I heard the term helicopter money a few months ago - odd term. I'm sure it had another name years ago but I'm too old and raddled to remember."
.
Steve keen proposed the idea to the Australian gov back in 08, it was given as a tax refund therefore only tax payers received it, it also has the stipulation that any debt had to be repaid first and it worked pretty well for Australia.
The reason Carney doesn't like it is it becomes real money, QE effectively costs nothing, your simply moving bank debt from high street to central bank therefore freeing up leverage, the idea is also that banks will only lend sensibly!!! (Yeah right).
The real problem with QE is the money isn't going anywhere, they measure it's movement through customers and it's called velocity of money, it's been at an all time low for about 8 years now, if you introduce 20 billon into the system and it goes around very little it does fuck all... However if you introduce 100 pounds and it changes hands every 5 minutes, you can see how in only a few months it's produced shit loads of commerce.... This is basically the idea of 0% interest rates.
There's really no need to worry about inflation in the foreseeable future.... Honestly there'd love it to get over 2% , they really need 5% or more for many years to get out of the debt trap there in but again you need velocity to get going for inflation to take place!
The UK really is not alone in this problem.... It's global and has been for awhile, I wouldn't be surprised to see US and European rates lowered soon |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"
A quarter of a percent rate cut - is meaningless. It won't help borrowers. It won't help savers. And means that the BoE has no means of countering inflation.
"
see.... not quite true....
it WILL help business's with bank loans....
it WILL help people with tracker mortgages....
it MAY help people with viable mortgages... if the lender decides to pass it on!...RBS and Lloyds has said they are not passing it on, Barclays, Nationwide and Santander have said they are! (and bless them, they have!)
it WONT help people with fixed rate mortgages...
as for inflation target... thats for the time being gone out of the window, (and as i said above, the chancellor would have to have signed off on that before they confirmed that decision because of the automatic 2% letter of explanation) and the exchange rate has also been sacrificed to try and keep the unemployment rate as low as possible...
it is going up... they are trying to stop it from going up as much as they can |
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By (user no longer on site)
over a year ago
|
"
16:19 Record low gilt yields
Government borrowing is down as well U.K. 30yr gilt yield below 1.5% for the first time ever.
oh dear..... you say that so confidently like it is a brilliant thing.....
you do know why this is don't you.....
it because an entity call the "bank of england" went and bought back about 60 billion in government debt..... what that they does is surpresses the interest rate you get for buying they debt (bonds and gilts)....
if you knew you were going to get less of a return on money... you are less likely as an invester, even thought it is super safe, to put it there...
pension funds for example are going to put it where you can get a better return.... if you are only going to get 1.5% return on it... its not going there !!!"
Sorry Fabio Gilts have been at a low yield for a very long time, were actually lower post the EU vote and as I recall they made a profit last time round when QE was used 5 years ago.... and nothing to do with QE announcement today which hasn't actually been used yet?
A year ago 10 year Gilts were @ 2%. they are now at less than 1%. Which means the Government can raise debt at a lower rate than it has for decades, pay off old high yield debt and reduce borrowing costs again. |
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By *LCCCouple
over a year ago
Cambridge |
The reports produced by Markit are economic data based on actual purchases actual orders actual staff numbers etc.
Forecasts by institutions such as the Bank of England are important, and respected by investors.
Growth forecasts being revised down from 2.3% to 0.8% shows a sudden and dramatic decline in our economy.
Using monetary policy such as cutting interest rates to historic lows and billions of pounds of QE show that out economy is now in a bad shape.
Years of potential "savings" from not paying into the EU have been wiped out in a single day.
All of this is a disaster of our own making and is a result of voting to leave the EU.
A larger economy would have resulted in more taxes for the government that could have been used to pay off the deficit, or cut taxes or provide greater services like more money for the NHS. |
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"
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING. "
Blimey, you sound like Hitler as the Russians rolled up Wilhelmstrasse |
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By (user no longer on site)
over a year ago
|
"The reports produced by Markit are economic data based on actual purchases actual orders actual staff numbers etc.
Forecasts by institutions such as the Bank of England are important, and respected by investors.
Growth forecasts being revised down from 2.3% to 0.8% shows a sudden and dramatic decline in our economy.
Using monetary policy such as cutting interest rates to historic lows and billions of pounds of QE show that out economy is now in a bad shape.
Years of potential "savings" from not paying into the EU have been wiped out in a single day.
All of this is a disaster of our own making and is a result of voting to leave the EU.
A larger economy would have resulted in more taxes for the government that could have been used to pay off the deficit, or cut taxes or provide greater services like more money for the NHS. "
what is your infatuation with forecasts and financial 'experts'? Frankly I don't think any of them are 'respected' except by eachother in their own little bubble maybe. How many predicted the banking crash or did anything to avoid it? How many said the Euro was a good idea for Europe, or rather, pretended it was a good idea and sold everyone a pup? And how would you describe the 'experts' of the IMF's handling of the Euro crisis? |
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By (user no longer on site)
over a year ago
|
"
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
Blimey, you sound like Hitler as the Russians rolled up Wilhelmstrasse"
I would have appreciated not being compared to Hitler thank you ... |
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"
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
Blimey, you sound like Hitler as the Russians rolled up Wilhelmstrasse
I would have appreciated not being compared to Hitler thank you ... "
Disgusting hitler cant defend himself against such an insult . |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"And in more breaking news the 'expert' bankers at RBS lost £2 billion last year  "
shocking from you.....and a bit misleading as well
what has actually happen is they have had to settle £1.3 billion in PPI claims.... and they have also put aside another £500 million for the last lot of PPI claims they are expecting before the deadline........
but thanks as usual for playing... and whiffing... |
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By (user no longer on site)
over a year ago
|
"And in more breaking news the 'expert' bankers at RBS lost £2 billion last year
shocking from you.....and a bit misleading as well
what has actually happen is they have had to settle £1.3 billion in PPI claims.... and they have also put aside another £500 million for the last lot of PPI claims they are expecting before the deadline........
but thanks as usual for playing... and whiffing..."
what about the billion they wasted on a new IT system? |
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Interest rate cut not helping Sunderland much.
Nissan halts investment in Sunderland plant until Brexit deal clear
The boss of Nissan has said future decisions about the car giant's Sunderland plant will depend on the outcome of Brexit negotiations.
And the great game of brexit roulette rolls on |
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By (user no longer on site)
over a year ago
|
"Interest rate cut not helping Sunderland much.
Nissan halts investment in Sunderland plant until Brexit deal clear
The boss of Nissan has said future decisions about the car giant's Sunderland plant will depend on the outcome of Brexit negotiations.
And the great game of brexit roulette rolls on "
Is there no limit to your disgusting personal crap? So I am an insult to Hitler now? Some of us limit our responses due to Forum Rules...
But what you just said about Nissan is a complete and utter lie. I watched the interview with the Nissan chief, Carlos Ghosn, and he was saying "We are reasonably optimistic at the end of the day, common sense will prevail from both sides" about the UK and the EU. Its right here:
http://www.bbc.co.uk/news/business-36981182
No investment has been stopped and they are expanding the electric technology for Hybrid cars. And of course they will review future investment after the Brexit talks are done. That is NOT the same as saying 'there will be no investment'.
There is a big difference between those of us who try discussing events and writing the utter shite you do .... |
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"Interest rate cut not helping Sunderland much.
Nissan halts investment in Sunderland plant until Brexit deal clear
The boss of Nissan has said future decisions about the car giant's Sunderland plant will depend on the outcome of Brexit negotiations.
And the great game of brexit roulette rolls on
Is there no limit to your disgusting personal crap? So I am an insult to Hitler now? Some of us limit our responses due to Forum Rules...
But what you just said about Nissan is a complete and utter lie. I watched the interview with the Nissan chief, Carlos Ghosn, and he was saying "We are reasonably optimistic at the end of the day, common sense will prevail from both sides" about the UK and the EU. Its right here:
http://www.bbc.co.uk/news/business-36981182
No investment has been stopped and they are expanding the electric technology for Hybrid cars. And of course they will review future investment after the Brexit talks are done. That is NOT the same as saying 'there will be no investment'.
There is a big difference between those of us who try discussing events and writing the utter shite you do ...."
Reported in the Sunderland echo ..so dont post your cover up lies on here .all truths here shame we cant say the same about your bitter views are there no limit to your brexit lies !!!!!!!!! |
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By *oo hotCouple
over a year ago
North West |
"Interest rate cut not helping Sunderland much.
Nissan halts investment in Sunderland plant until Brexit deal clear
The boss of Nissan has said future decisions about the car giant's Sunderland plant will depend on the outcome of Brexit negotiations.
And the great game of brexit roulette rolls on
Is there no limit to your disgusting personal crap? So I am an insult to Hitler now? Some of us limit our responses due to Forum Rules...
But what you just said about Nissan is a complete and utter lie. I watched the interview with the Nissan chief, Carlos Ghosn, and he was saying "We are reasonably optimistic at the end of the day, common sense will prevail from both sides" about the UK and the EU. Its right here:
http://www.bbc.co.uk/news/business-36981182
No investment has been stopped and they are expanding the electric technology for Hybrid cars. And of course they will review future investment after the Brexit talks are done. That is NOT the same as saying 'there will be no investment'.
There is a big difference between those of us who try discussing events and writing the utter shite you do ...."
The key points...
1) Reasonably optimistic that common sense will prevail. Presumably this means that the UK will retain unfettered and free access to the single market as this is what Nissan needs.
2) Review future investment until after Brexit talks ... because if the UK were to leave the single market then a significant motivation to invest more would be gone.
As most Brexit Turkeys don't want the EU or the single market if it means free movement, then Brexit Roulette and Nissan can actually be used in the same sentence. |
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Here's the link to show the how a certain Eurosceptic tells lies..
http://www.sunderlandecho.com/news/business/nissan-halts-investment-in-sunderland-plant-until-brexit-deal-clear-but-boss-reasonably-optimistic-1-8052373
So that's the start of what happens if you play brexit roulette.... |
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By (user no longer on site)
over a year ago
|
OK I just read youyr link ... NOTHING in there contradicts anything the BBC quoted ... so why make out there are lies when there aren't?.. Oh wait you just cause arguments ... |
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"Here's the link to show the how a certain Eurosceptic tells lies..
http://www.sunderlandecho.com/news/business/nissan-halts-investment-in-sunderland-plant-until-brexit-deal-clear-but-boss-reasonably-optimistic-1-8052373
So that's the start of what happens if you play brexit roulette....
Hey you with the potty mouth .. I quoted the fuckking BBC ... I gave the source and link. So where the FUCK was I lying?... If I am then its the BBC as well ...
This is getting fucking pathetic .. I am out ..."
Potty mouth !!!!! You lied about Nissan halting investment read the link nothing I posted was a lie time to face realty about brexit roulette |
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"OK I just read youyr link ... NOTHING in there contradicts anything the BBC quoted ... so why make out there are lies when there aren't?.. Oh wait you just cause arguments ... "
Oh wait you you call me a liar when in fact I posted the truth. Maybe you suffer premature posting !!!!!!!! |
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By *LCCCouple
over a year ago
Cambridge |
"Remainers are expecting big financial hit, brexiters not so much, remainers are the realists. "
I agree. Arguments about how much the EU cost, how much extra money we could spend on the NHS etc. have all now been rendered moot as in a single day, the equivalent of years worth of contributions have been essentially run off the printing press.
Yesterday it was £70 bn in monetary policy measures, but the Bank of England think it could be £100 bn by the end of the year. As we pay around £13 bn contribution per year that is the equivalent of more than 5 years contributions paid in a day. |
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"
what is negatively affecting this economy is the people who wanted us to Remain in the EU and forecast Armageddon if we left and are now determined to deliver that failure. Remind me exactly what in reality has changed since June 24th? .. here is a clue .. NOTHING.
Blimey, you sound like Hitler as the Russians rolled up Wilhelmstrasse
I would have appreciated not being compared to Hitler thank you ... "
Why not?, haven't you seen all the Downfall memes? |
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"Remainers are expecting big financial hit, brexiters not so much, remainers are the realists.
I agree. Arguments about how much the EU cost, how much extra money we could spend on the NHS etc. have all now been rendered moot as in a single day, the equivalent of years worth of contributions have been essentially run off the printing press.
Yesterday it was £70 bn in monetary policy measures, but the Bank of England think it could be £100 bn by the end of the year. As we pay around £13 bn contribution per year that is the equivalent of more than 5 years contributions paid in a day. "
Falls on deaf ears that one as it doesn't fit in with brexit utopia |
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By (user no longer on site)
over a year ago
|
"Remainers are expecting big financial hit, brexiters not so much, remainers are the realists.
I agree. Arguments about how much the EU cost, how much extra money we could spend on the NHS etc. have all now been rendered moot as in a single day, the equivalent of years worth of contributions have been essentially run off the printing press.
Yesterday it was £70 bn in monetary policy measures, but the Bank of England think it could be £100 bn by the end of the year. As we pay around £13 bn contribution per year that is the equivalent of more than 5 years contributions paid in a day. "
 |
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By (user no longer on site)
over a year ago
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In 2010 the government cancelled a program to rebuild 715 schools, because they’d run out of money. But at the same time the Bank of England had created £375 billion of new money through a program called Quantitative Easing. Instead of this money being spent on something useful, it was pumped into the financial markets, benefitting the richest 5% but doing almost nothing to create jobs and stable economic recovery.
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By *isandreTV/TS
over a year ago
Hartlepool |
"In 2010 the government cancelled a program to rebuild 715 schools, because they’d run out of money. But at the same time the Bank of England had created £375 billion of new money through a program called Quantitative Easing. Instead of this money being spent on something useful, it was pumped into the financial markets, benefitting the richest 5% but doing almost nothing to create jobs and stable economic recovery.
Nothing new there!"
Surely that was all down to the EU, somehow?
It can't have been anything to do with our own governments policies and decisions as we have no control.
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"In 2010 the government cancelled a program to rebuild 715 schools, because they’d run out of money. But at the same time the Bank of England had created £375 billion of new money through a program called Quantitative Easing. Instead of this money being spent on something useful, it was pumped into the financial markets, benefitting the richest 5% but doing almost nothing to create jobs and stable economic recovery.
Nothing new there!"
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By (user no longer on site)
over a year ago
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"Will interest rates be cut today?
Speculation is a quarter percent drop is very likely.
I think it won't happen and certainly shouldn't!
A quarter percent cut will not be a boost to the economy....but it will send a signal to the markets that the BoE is starting to panic.....and given the recent economic data there is no reason to do this. Will be interesting to watch this space!"
It all makes Perfect Sense
https://www.youtube.com/watch?v=5VH5xJpjnxc
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