Bank of England - hold or lower?
- Thread starter Edinho
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Man of Honour
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I think this will only be a short measure..
Soldato
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Good, now will we actually see the reduction in our mortgage payments or will the banks just profit without passing it back
You may not see any reductions, but it doesn't mean the banks are gaining from that.
If LIBOR doesn't fall the banks won't be able to source the money any cheaper and so won't pass the savings on to you.
Man of Honour
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I should think LIBOR will fall as it's the interbank lending that's been an issue recently.
Expected really, the banks are struggling at the moment to get customers in and this rate cut will probably be passed on to them as soon as possible. If they don't then customers won't take loans meaning the housing market will struggle.
Yeah lets see the economy of this country go down the pan and send this country into a recession, then suddenly prices might half and all the bargain hunters will pick up houses on the cheap. Doesn't quite work like that though
If this country goes into a recession only people with rather large amounts in their bank accounts will be picking up bargains, not the ones who can't afford the deposit on buying a house now....
Bump em up, lets see those house prices tumble
Yeah lets see the economy of this country go down the pan and send this country into a recession, then suddenly prices might half and all the bargain hunters will pick up houses on the cheap. Doesn't quite work like that though
If this country goes into a recession only people with rather large amounts in their bank accounts will be picking up bargains, not the ones who can't afford the deposit on buying a house now....It also depends on the type of mortgage that you're on. If you're on a tracker then you'll get the benefit however on I doubt they'll pass on the full effects of the cut to fixed borrowers.
It depends if the banks will be more willing to lend to each other now that BB has been cut - it doesn't necessarily follow that they will. There's still a fair amount of tension in the markets atm.
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just bought some dollars in advance of next trip as the rate should fall and Travelex online are always a day in arrears
Depends if the Fed slash another 50bp at their next meeting though
Depends if the Fed slash another 50bp at their next meeting though
ah, didn't think of that
just had a look , post office are $1.92 and travelex $2.00 and folks still think the PO offer good rates :eel:
Soldato
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Love the way this forum is full of "financial experts" who know more than the BoE and that they are "bowing to political pressure" and a cut in rates in the end of the world.
Why don't you go and work for them then?
Why don't you go and work for them then?
yeah, your right, the BoE and politicians are all fully competent and have never made any mistakes and only have the best interests of the country at heart
Good decision by the bank of england, what's needed for the country rather than those wishing for economic problems. (I'll insert my standard disclaimer about hoping those who wish for recession should be the ones suffering for it)
(I'll insert my standard disclaimer about hoping those who wish for recession should be the ones suffering for it)Maybe we are monkies in other financial institutes...
Good decision by the bank of england, what's needed for the country rather than those wishing for economic problems.
Good for the country in your opinion.
I can't help but think they're underestimating inflation and we could well see stagflation hit us soon.