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Bank Rate to go lower

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    Bank Rate to go lower

    Is it true i heard on the radio that the Bank Of England are thinking of dropping their rate again !!!!

    This is ace as my tracker offset mortgage means i'm paying the same but knocking months off my mortgage.

    Of course won't benefit for another 23 years but still.....
    Thats the way the cookie crumbles

    #2
    It is true you heard that on the radio.

    HTH



    With inflation increasing a base rate decrease is less likely.

    Comment


      #3
      Originally posted by basshead View Post
      It is true you heard that on the radio.

      HTH



      With inflation increasing a base rate decrease is less likely.
      Yes indeed. It was expected that if it was held at 5% this month (it was) then next month it would be reduced by 0.25%. Now that today the CPI inflation figure is out and has gone up to 3%, they probably won't... perhaps even increase it... eek!
      It's about time I changed this sig...

      Comment


        #4
        Originally posted by MrRobin View Post
        Yes indeed. It was expected that if it was held at 5% this month (it was) then next month it would be reduced by 0.25%. Now that today the CPI inflation figure is out and has gone up to 3%, they probably won't... perhaps even increase it... eek!
        Financial bloke on Working Lunch saying he fears inflation will be at 4% in 6-12 months time (and we all know that true inflation is much higher than the CPI). They may have to increase it.
        Will work inside IR35. Or for food.

        Comment


          #5
          Makes no difference to borrows, that rate is only going to go up.

          Savers will lose out of course, they always do.

          Comment


            #6
            After today’s inflation figures – they’d be barking; which means that there is a fair chance.

            “Ah, but most of the inflation is in non-core items and they are less affected by interest rates”, I hear some say. True, but most of these items are imported and so foreign exchange rates are important here. Cutting rates would weaken Sterling and push inflation up even further.
            How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

            Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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            "We hang the petty thieves and appoint the great ones to high office" - Aesop

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