Bank hints at further rate rises

[DaveB]

The Bank of England has hinted that UK rates may have to rise further in coming months in order to keep inflation on target at 2%.
In its quarterly inflation report, the Bank said inflation could rise as high as 2.7% without a rate rise.

But while the Bank said it had raised its expectations for economic growth, it warned that high energy bills still posed a risk.

The news comes a week after the Bank raised rates to 4.75% from 4.5%.

I'm telling you, 6% by Spring 2007. Remember, you heard it here first.

[AtW]

Getting up from 4.5% to 6% would make a lot of people default on morgages.

[Andyw]

The Bank of England has hinted that UK rates may have to rise further in coming months in order to keep inflation on target at 2%.
In its quarterly inflation report, the Bank said inflation could rise as high as 2.7% without a rate rise.

But while the Bank said it had raised its expectations for economic growth, it warned that high energy bills still posed a risk.

The news comes a week after the Bank raised rates to 4.75% from 4.5%.

I'm telling you, 6% by Spring 2007. Remember, you heard it here first.

Bollox !

[Asterix]

Muppets

They cited rising fuel and energy prices (20%) as a reason for putting up the base rate (is there a regulator ?) Next they'll say it's council tax rises (as we've been warned) or whatever. Truth is whereas before a Chancellor with balls like Ken Clarke would sit with the Governor of the Bank over a cigar and a scotch, then decide what the best rate would be and ask him to countersign, now we have this quango of Blarite/Brownite bankers/advisors hiding behind figures and telling us what's best. Muppets.

[Numptycorner]

They cited rising fuel and energy prices (20%) as a reason for putting up the base rate (is there a regulator ?) Next they'll say it's council tax rises (as we've been warned) or whatever. Truth is whereas before a Chancellor with balls like Ken Clarke would sit with the Governor of the Bank over a cigar and a scotch, then decide what the best rate would be and ask him to countersign, now we have this quango of Blarite/Brownite bankers/advisors hiding behind figures and telling us what's best. Muppets.

Yeah it best that politicians decide interest rates, rather than bankers. Hopefully then we can have another black wednesday!

[Asterix]

NewLie propaganda

'Black' Wednesday - 15% interest rates, another NewLie spin. Most here dont know what it was, so let me enlighten you. This was the enforced entry to the Eurozone (under Labour and Lib pressure and despite Thatcherites' warnings) combined with heavy speculating by 'philanthropists' like Soros. 15% only lasted for a few days in order to protet the pound, it went straight back to single figures afterwards.
Having bankers in charge of interest rates is like having a wolf guard the sheep.

[ALM]

'Black' Wednesday - 15% interest rates, another NewLie spin. Most here dont know what it was, so let me enlighten you. This was the enforced entry to the Eurozone (under Labour and Lib pressure and despite Thatcherites' warnings) combined with heavy speculating by 'philanthropists' like Soros. 15% only lasted for a few days in order to protet the pound, it went straight back to single figures afterwards.
Having bankers in charge of interest rates is like having a wolf guard the sheep.

Bollox.

[Asterix]

Why ?

Pls explain why

[TwoWolves]

The BOE do a better job of controlling interest rates than the government IMHO however I now suspect that the treasury is exerting considerable political leverage over the BOE. Probably with threats over CT etc.

The government is stoking inflation and then the BOE attempt to cool it using interest rates, its like a game of monopoly but we don't get to play ourselves.

[Numptycorner]

'Black' Wednesday - 15% interest rates, another NewLie spin. Most here dont know what it was, so let me enlighten you. This was the enforced entry to the Eurozone (under Labour and Lib pressure and despite Thatcherites' warnings) combined with heavy speculating by 'philanthropists' like Soros. 15% only lasted for a few days in order to protet the pound, it went straight back to single figures afterwards.
Having bankers in charge of interest rates is like having a wolf guard the sheep.

I see the Tories needed Labour and Lib Dem to tell them what to do, were they really that feeble minded?

Do you really believe politicians (any politicians) should set interest rates? Politicians only act when the horse has already bolted. Any government would not want to raise interest rates now.

Had interest rates been managed properly we wouldn't have entered the ERM at the wrong rate.

'Let me enlighten you' indeed LMFAO