Interest Rate Down to 1.5% now
As per title.......
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Hardly surprising.
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STOP REWARDING RECKLESS MUPPETS AND PUNISHING PRUDENT SAVERS YOU GOVERNMENT BAR STEWARDS!
I now feel slightly better. Our interest was covering pretty much all our annual bills. Now it's not. Bu66er. Bu66er. Bu66er. Oh well, the tide will soon turn. |
Originally Posted by Matteeboy
(Post 8407025)
Oh well, the tide will soon turn.
In another 18 months we'll be back over 5% IMHO. |
Originally Posted by FlightMan
(Post 8407037)
Yep, rising inflation due to the cost of imports rising because of the week £ will mean rates will have to go back up.
In another 18 months we'll be back over 5% IMHO. |
Originally Posted by FlightMan
(Post 8407037)
Yep, rising inflation due to the cost of imports rising because of the week £ will mean rates will have to go back up.
In another 18 months we'll be back over 5% IMHO. |
I'll bet you £10 per 1bp against that if you want? Seriously.
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Originally Posted by Matteeboy
(Post 8407025)
STOP REWARDING RECKLESS MUPPETS AND PUNISHING PRUDENT SAVERS YOU GOVERNMENT BAR STEWARDS!
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Originally Posted by Matteeboy
(Post 8407046)
Agreed although I'd stick my neck out and say 8-10% by 2010.
This i would lay at up to £100 per 1bp. PM me if you're interested. |
I'm not a betting man. How about a sportsmans bet?!
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Originally Posted by Matteeboy
(Post 8407046)
Agreed although I'd stick my neck out and say 8-10% by 2010.
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Well one person seems confident of his convictions and is "walking the walk" not "talking the talk" :cool:
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I'll stand a £1 on the 8% per £100 tel before 2011 :norty:
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Put your savings in your mortgage...lovely!
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You do know your total downside if rates are still 1.5%, don't you? :D
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£1 :lol1:
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Er, no, not on the terms i was offering. :lol1:
But ok, you're done in a straight £1 under/over :D |
Originally Posted by TelBoy
(Post 8407089)
You do know your total downside if rates are still 1.5%, don't you? :D
Was that for me....I don't know! I know I have some savings, and I have a mortgage fixed at 4.9% for another 2.5 years? |
I was talking spread betting, Dave, nothing to do with the real world. :)
Savers will be hit hard, they're always the fall guys in a recession. 4.9% for 2 years isn't the end of the world, lots of people are locked in a lot higher. |
He meant me, I was playing ignorant about him gambling my money, and offered him £1 for £100 on a simple bet instead :norty:
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Now if the CC company's dropped there rates to say 7-8pc
then people would prhaps pay off more, thus giving them a bit of light at the end of the tunnel. in turn it may get some money back to the banks. Mart |
Why would cheaper credit rates encourage people to reduce their balances??
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Originally Posted by TelBoy
(Post 8407156)
Why would cheaper credit rates encourage people to reduce their balances??
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Originally Posted by mart360
(Post 8407144)
Now if the CC company's dropped there rates to say 7-8pc
then people would prhaps pay off more, thus giving them a bit of light at the end of the tunnel. in turn it may get some money back to the banks. Mart The current high rates should make people pay off their debts. Lower rates would encourage them to borrow more. |
What does this reduction actually achieve wrt the economy? Fixed rate mortgages, high credit / store card rates, utility bills related to external factors, raw materials priced in $US, etc. what will change?
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Well,they can do whatever they want to interest rates.
Can't see it kick starting the housing market or solving peoples tens of thousands of pounds of debt with no lenders prepared to lend them money to pay it all off. Especially having no equity anymore. What a mess. |
Originally Posted by speedking
(Post 8407164)
What does this reduction actually achieve wrt the economy? Fixed rate mortgages, high credit / store card rates, utility bills related to external factors, raw materials priced in $US, etc. what will change?
Last rate cut, the banks increased the borrowing rate to each other. :rolleyes: |
Very good question. A cynic (like me) would say not very much. But like all capitalist cycles, a huge part of what drives it is sentiment. It is, after all, driven by human spending and saving patterns. A reduction in borrowing costs will encourage people to spend, or at least save less, and that, in theory, will kickstart the economy. But the actual difference between 2% and 1.5% to the average man in the street? Negligible.
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Originally Posted by davyboy
(Post 8407108)
:confused:
Was that for me....I don't know! I know I have some savings, and I have a mortgage fixed at 4.9% for another 2.5 years? 5t. |
Originally Posted by stilover
(Post 8407182)
Last rate cut, the banks increased the borrowing rate to each other. :rolleyes:
Come again?? |
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