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#161427 - 5th Jul 2007 10:06pm Further BOE Rate Rise
MattLFC Offline
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Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Originally Posted By: BBC News
The Bank of England has raised UK interest rates from 5.5% to 5.75%, its fifth rate rise since last August.

Its Monetary Policy Committee (MPC) warned that inflation remains a danger, saying "most indicators of pricing pressure remain elevated".

Some analysts have taken that to mean there may be a further rise this year.

The higher rates will add between 15 and 20 a month to an average 100,000 repayment mortgage, but may be good for savers who should earn higher interest.

Hehe...

This country is going down!! Sooner or later people are going to pay the price for all their wreckless overborrowing on mortgages etc, and everyone will realise how weak our economy really is.

I still say it will be 6.00% by the end of the year.

grin

BBC News Report

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#161465 - 5th Jul 2007 11:33pm Re: Further BOE Rate Rise [Re: MattLFC]
jonah Offline
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Registered: 29th Nov 2006
Posts: 3992
Loc: 1313 Mockingbird Lane, I live ...
it will probably be matty, thank god i'm on a fixed rate for 2 yrs wink
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#161468 - 5th Jul 2007 11:35pm Re: Further BOE Rate Rise [Re: jonah]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Originally Posted By: jonah
it will probably be matty, thank god i'm on a fixed rate for 2 yrs wink

Yeah man, you got your head screwed on. I bet your glad its a fixed rate now, even if it is only for a couple of years, every penny is better in your pocket then the banks!

smile

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#161470 - 5th Jul 2007 11:37pm Re: Further BOE Rate Rise [Re: MattLFC]
jonah Offline
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Registered: 29th Nov 2006
Posts: 3992
Loc: 1313 Mockingbird Lane, I live ...
aint that the truth dude !
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stevejones74@hotmail.co.uk


"WELL MY NUTS ARE HALFWAY UP MY ASS, BUT OTHER THAN THAT I'M PERFECT.....! "

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#166994 - 20th Aug 2007 5:03pm Re: Further BOE Rate Rise [Re: jonah]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Just listening to a financial and markets analyst atm and it sounds like the industry are predicting a further interest rise is imminent before the end of the year.

Also, interestingly, the London housing market has seen the first drop in average prices in over a decade.

It's only 0.1% drop, but its significant because the rest of the country will follow.

Also, given all the recent problems within the markets, and the UK housing market seemingly going to hit 6.00% base rates and the fact that it looks like house prices are starting to drop because the market in general is slowing down fast, he said the general feeling within the industry is that a recession isnt too far away, maybe 3 - 4 years...

smile

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#167001 - 20th Aug 2007 6:24pm Re: Further BOE Rate Rise [Re: MattLFC]
BMW Joe Offline
Wiki Master

Registered: 30th Apr 2006
Posts: 12369
Loc: Birkenhead
Originally Posted By: MattLFC
a recession isnt too far away, maybe 3 - 4 years...


I really hope so tbh, cant wait pray lol
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