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Oh Dear™: Interest Rates Up!

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    Oh Dear™: Interest Rates Up!

    Just heard on the news... 4.75%

    Will provide link shortly...
    If you think my attitude stinks, you should smell my fingers.

    #2

    UK interest rates raised to 4.75%


    The Bank of England has increased interest rates by a quarter of a percentage point to 4.75% in an effort to keep inflation in check.

    The move marks the first rise in the cost of borrowing for 11 months.

    Experts were divided over whether the Bank's Monetary Policy Committee would move sooner or later to raise rates.

    Inflation rose to 2.5% in June - above the government's 2% target - and there are fears that rising energy bills could force consumer prices up further.


    About bloody time. These low interest rates are killers for us savers with no debt. Expect lots of foot dragging over retail interest rates going up though.

    Comment


      #3
      We'll be at 6% by Spring '07.

      You heard it here first.
      "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

      Comment


        #4
        Originally posted by DaveB
        We'll be at 6% by Spring '07.

        You heard it here first.
        Rock on the good times!

        Comment


          #5
          We're doomed!
          Boom boom boom boom
          A-haw haw haw haw
          Hmmm hmmm hmmm hmmm
          Hmmm hmmm hmmm hmmm

          Comment


            #6
            I'm more interested now than I was before. Tell me more.
            Will work inside IR35. Or for food.

            Comment


              #7
              Originally posted by DaveB
              We'll be at 6% by Spring '07.

              You heard it here first.
              Do you really think so, DaveB? That's five hikes in not many more months which would beg the question as to why rates have been pegged for so long.

              In any case, I'm sure the government will act decisively by adding DVD players and flash memory cards to the basket of standard goods and removing gas and petrol. There - problem solved!

              Comment


                #8
                Couldn't care less about interest rate rise, I've got a fixed rate mortgage for the next two years
                Cats are evil.

                Comment


                  #9
                  Originally posted by swamp
                  Couldn't care less about interest rate rise, I've got a fixed rate mortgage for the next two years
                  How about the following 23 years?

                  Compared to last years fixed rate have generally gone up from 4.7ish% to 5.5ish% already.
                  I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.

                  Comment


                    #10
                    Originally posted by swamp
                    I've got a fixed rate mortgage for the next two years
                    I thought this was a contractors' board?

                    Comment

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