Interest Rates rise again
good news. It all helps.
11 January 2007, 12:06 PM
#2
Scooby Regular
Join Date: Sep 2001
Location: A powerslide near you
Posts: 10,261
Likes: 0
Received 0 Likes
on
0 Posts
Needed to happen and will be 6/6.5 by the end of the year easily, maybe more if this rise doesn't curb spending and inflation. Inflation is at 2.7%, the HIGHEST it's been in the last 10 years and rising too. Council tax about to go up, no doubt energy bills etc. too.
Trending Topics
11 January 2007, 12:12 PM
#9
Scooby Senior
Join Date: Mar 2003
Location: Next door to the WiFi connection
Posts: 16,293
Likes: 0
Received 0 Likes
on
0 Posts
11 January 2007, 12:15 PM
#10
Scooby Regular
Join Date: Sep 2001
Location: A powerslide near you
Posts: 10,261
Likes: 0
Received 0 Likes
on
0 Posts
Oh indeed, things that NL prats conveniently forget when bleating on comparing rates to 15/20 years ago that were higher although in reality a lot closer.
Does anyone have todays inflation rate as it were calculated 15/20 years ago? It'd be interesting to see what inflation is really doing by comparing like with like.
Does anyone have todays inflation rate as it were calculated 15/20 years ago? It'd be interesting to see what inflation is really doing by comparing like with like.
11 January 2007, 12:22 PM
#12
Scooby Regular
Thread Starter
Join Date: Nov 2002
Location: Talk to the hand....
Posts: 13,331
Likes: 0
Received 0 Likes
on
0 Posts
11 January 2007, 12:24 PM
#13
Scooby Regular
Join Date: Apr 2005
Location: I've joined the Focus family
Posts: 7,623
Likes: 0
Received 0 Likes
on
0 Posts
And any of you who think that the Bank of England are independent & don't get pressurised by the Treasury are sorely mistaken.
11 January 2007, 12:36 PM
#15
Scooby Regular
Join Date: Sep 2001
Location: A powerslide near you
Posts: 10,261
Likes: 0
Received 0 Likes
on
0 Posts
Hardly, this is down the chancellor of the exchequer, he controls (sort of 
) the economy etc. TB has less impact than GB on this front.
However it will be GBs leaving present to whichever 'poor' soul he put in at number 11 if & when he takes over number 10 officially. He wants someone else in soon to take the flack for his mismanagment.
) the economy etc. TB has less impact than GB on this front. However it will be GBs leaving present to whichever 'poor' soul he put in at number 11 if & when he takes over number 10 officially. He wants someone else in soon to take the flack for his mismanagment.
11 January 2007, 12:51 PM
#17
Scooby Regular
Join Date: Sep 2003
Posts: 549
Likes: 0
Received 0 Likes
on
0 Posts
Sorry but there is no way we will be 6.5% by the end of the year.
11 January 2007, 12:51 PM
#18
Scooby Regular
Join Date: Sep 2003
Location: Scoobynet
Posts: 5,387
Likes: 0
Received 0 Likes
on
0 Posts
Too little too late IMO - they BOE havent tackled inflation fast enough. Wouldnt be surprised if they up'd to 5.5% as early as next month.
Anyone's guess as to how high rates will go.
Anyone's guess as to how high rates will go.
11 January 2007, 12:52 PM
#19
Scooby Regular
Join Date: Aug 2002
Posts: 39,877
Likes: 0
Received 0 Likes
on
0 Posts
The official inflation rate was a fiddle when it was first instituted but it has now been doctored to bear little resemblance to what is really happening to prices.
The real inflation rate is more likely to be what the politicians calculate their pay rises and expenses/allowances on of course. They are after all far more equal then we ordinary people are!
Les
The real inflation rate is more likely to be what the politicians calculate their pay rises and expenses/allowances on of course. They are after all far more equal then we ordinary people are!
Les
11 January 2007, 12:55 PM
#20
Scooby Regular
Join Date: May 2005
Location: Here, There, Everywhere
Posts: 10,619
Likes: 0
Received 0 Likes
on
0 Posts
I checked last week on current 5/10 year fixed rates, and before todays rise, I'll end up paying more a month on less capital than what I pay now.
Bugger
Then the Government say they don't want people to have pay rises over inflation.
So Mr. Brown, just how am I going to pay my extra mortgage payments, and ever increasing utility bills. Oh yes, and the ever growing Tax money you take off us. You can't keep on taxing us more and not want us to get pay rises to pay for it all.
11 January 2007, 12:58 PM
#21
Scooby Regular
Join Date: Sep 2001
Location: A powerslide near you
Posts: 10,261
Likes: 0
Received 0 Likes
on
0 Posts
Why not, it's only 4/5 more rises i.e. once every 2/3 months. Could happen easily if inflation isn't curbed. And that's assuming they only rise at .25% each time, they could go for a .5% rise (which they should do as people pay more attention to one .5% rise than two .25% ones)
11 January 2007, 12:59 PM
#22
Scooby Regular
My 5 year fixed ends in November this year.
I checked last week on current 5/10 year fixed rates, and before todays rise, I'll end up paying more a month on less capital than what I pay now.
Bugger
Then the Government say they don't want people to have pay rises over inflation.
So Mr. Brown, just how am I going to pay my extra mortgage payments, and ever increasing utility bills. Oh yes, and the ever growing Tax money you take off us. You can't keep on taxing us more and not want us to get pay rises to pay for it all.
I checked last week on current 5/10 year fixed rates, and before todays rise, I'll end up paying more a month on less capital than what I pay now.
Bugger
Then the Government say they don't want people to have pay rises over inflation.
So Mr. Brown, just how am I going to pay my extra mortgage payments, and ever increasing utility bills. Oh yes, and the ever growing Tax money you take off us. You can't keep on taxing us more and not want us to get pay rises to pay for it all.
Not sure who has it wrong. Those that work every hour to pay for living on this septic isle or those that sit on their ***** with their hands out.
11 January 2007, 01:02 PM
#23
Scooby Regular
Join Date: Sep 2003
Posts: 549
Likes: 0
Received 0 Likes
on
0 Posts
Why not, it's only 4/5 more rises i.e. once every 2/3 months. Could happen easily if inflation isn't curbed. And that's assuming they only rise at .25% each time, they could go for a .5% rise (which they should do as people pay more attention to one .5% rise than two .25% ones)
11 January 2007, 01:07 PM
#25
Scooby Regular
Join Date: Oct 2001
Location: X5 and MCS JCW country....London :)
Posts: 2,223
Likes: 0
Received 0 Likes
on
0 Posts
11 January 2007, 01:09 PM
#26
Scooby Regular
Join Date: Oct 2003
Location: Tellins, Home of Super Leagues finest, and where a "split" is not all it seems.
Posts: 5,504
Likes: 0
Received 0 Likes
on
0 Posts
Great news! More money for my mortgage 
I'm so happy I'm almost moist with cheeriness
Keep them rising... The more I have to spend on my mortgage the less I will have for the fun things in life
I'm so happy I'm almost moist with cheeriness Keep them rising... The more I have to spend on my mortgage the less I will have for the fun things in life
11 January 2007, 01:10 PM
#27
Scooby Regular
Join Date: Sep 2003
Posts: 549
Likes: 0
Received 0 Likes
on
0 Posts
11 January 2007, 01:11 PM
#28
Scooby Regular
Join Date: Sep 2003
Location: Scoobynet
Posts: 5,387
Likes: 0
Received 0 Likes
on
0 Posts
I expect that will change seeing as the BOE have shown today they arent completely in GB's pocket, and are starting to look like they will tackle inflation afterall. Saying that I'd be susprised if rates reached 6.5% by the end of the year, my money would be only 6% and 6.25% tops.
11 January 2007, 01:12 PM
#29
Scooby Regular
Join Date: Aug 2004
Location: Stella Brewery
Posts: 640
Likes: 0
Received 0 Likes
on
0 Posts
It's times like this I'm glad I don't have a mortgage and the cars were bought outright. Just had to listen to my neighbour moaning how his house will be unaffordable if the rate goes up much more
11 January 2007, 01:14 PM
#30
Scooby Regular
Join Date: Nov 2000
Location: 32 cylinders and many cats
Posts: 18,658
Likes: 0
Received 1 Like
on
1 Post
I'm surprised they raised it in January, but still think it is too little, too late to control inflation.
Now we just need a house price crash
Now we just need a house price crash
Last edited by john banks; 11 January 2007 at 01:17 PM.