Great news for those on a tracker mortgage I would expect.
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BoE cuts base rate from 0.75% to 0.25%
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Originally posted by _V_ View PostGreat news for those on a tracker mortgage I would expect.Do what thou wilt -
Only 0.25% to go!
Then socialist Boris will pass decree to confiscate private individuals from holding gold & cash."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostOnly 0.25% to go!
Then socialist Boris will pass decree to confiscate private individuals from holding gold & cash.merely at clientco for the entertainmentComment
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Originally posted by eek View PostAt least the BoE had options to deal with this crisis. I'm looking forward to seeing what tools the ECB have that haven't already been fully (ab)used..
Some option!
Hear this, the last central bank to lower rates will be the last one to increase them when all this is over."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostSome option!
Hear this, the last central bank to lower rates will be the last one to increase them when all this is over.merely at clientco for the entertainmentComment
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First Law of Contracting: Only the strong surviveComment
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Originally posted by eek View PostHow do you cut interest rates below 0 and relax capital ratios when they were already relaxed?
It is already happening. RBS already a government bank, really this is helicopter money. My bet is those mortgage payments will be forgiven and never paid.
But where do you draw the line? Why do the banks not forgive struggling business mortgages such as restaurants?
Coronavirus: Banks to allow customers to defer mortgage payments
Taxpayer-owned bank RBS will allow people affected by the coronavirus outbreak to defer mortgage and loan repayments for up to three months.
TSB and Lloyds said they would also allow a mortgage window, and the banks said savers could close fixed-term savings accounts without charge.
This is designed to allow people to access cash if they need it as the impact of the virus is felt.
Banks are also announcing extra support for affected businesses."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostIt is already happening. RBS already a government bank, really this is helicopter money. My bet is those mortgage payments will be forgiven and never paid.
But where do you draw the line? Why do the banks not forgive struggling business mortgages such as restaurants?
Coronavirus: Banks to allow customers to defer mortgage payments"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Originally posted by eek View PostAt least the BoE had options to deal with this crisis. I'm looking forward to seeing what tools the ECB have that haven't already been fully (ab)used..His heart is in the right place - shame we can't say the same about his brain...Comment
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