UK drops interest rates to lowest level ever

[Hosehead]

From Sky

The Monetary Policy Committee's move takes the rate to 1.5% - the first time it has fallen below 2% since the Bank was founded in 1694.

And here we are choking away in SA with the Reserve Bank's stranglehold on us all.

 

[boramk]

Do you really think this is good for America?

They going this low, it's real bad, people foresee another "Lost Decade" as Japan faced, absolutely no growth in GDP and deflation :/

 

[supersunbird]

Remember, higher interest rates will attract foreign currency due to better returns than their local markets and it means citizens with savings can earn enough from them to decently compete against the inflation rate which would erode people savings. Can you understand that?

 

[supersunbird]

Do you really think this is good for America?

They going this low, it's real bad, people foresee another "Lost Decade" as Japan faced, absolutely no growth in GDP and deflation :/

UK = America? Thanks for the new OBE geography lesson.

 

[werner]

you say that like 1.5% is a good thing.

it is a sign of desperation. utter desperation...we are now in unchartered waters..let me say it again, NEVER BEFORE IN THE HISTORY OF THE UK havethe interest rates been this low, we do not know what will happen.

an analogy..the bank of england has a lever they pull...up or down (interest rates) and they use this to control the economy. normall half a percent this way or that, like a magic bullet

bank of england is backed into a corner in the room, sweating profusely, he knows he is in trouble, and checking his gun he only has 3 bullets remaining.

but they are all blanks. and what then?

 

[boramk]

UK = America? Thanks for the new OBE geography lesson.

Oh sorry
read US

 

[JHatman]

Walking through Buchanan Galleries in Glasgow this Christmas was very sobering, seeing so many closed shops

 

[The_Unbeliever]

you say that like 1.5% is a good thing.

it is a sign of desperation. utter desperation...we are now in unchartered waters..let me say it again, NEVER BEFORE IN THE HISTORY OF THE UK havethe interest rates been this low, we do not know what will happen.

an analogy..the bank of england has a lever they pull...up or down (interest rates) and they use this to control the economy. normall half a percent this way or that, like a magic bullet

bank of england is backed into a corner in the room, sweating profusely, he knows he is in trouble, and checking his gun he only has 3 bullets remaining.

but they are all blanks. and what then?

He'll have to make a good bluff - or fold.