Bank of England cuts interest rates to 4%
https://www.financialreporter.co.uk/bank-of-england-cuts-interest-rates-to-4.html
Posted by gemushka
Bank of England cuts interest rates to 4%
https://www.financialreporter.co.uk/bank-of-england-cuts-interest-rates-to-4.html
Posted by gemushka
13 Comments
Everyone’s going to cut hard next year anyway when JP is out of the US fed. Quarter points will seem quaint.
inflating away some of our debt doesn’t seem like the worst idea in the world to me..
I don’t think we should be decreasing with inflation not under control.
Yay, but I dont this is going to turn the tide on any of our economic problems.
It’s a joke
“The market is so unstable right now guys, better lock in for 5 years in case it goes higher”
Everyone locks in
2 weeks later:
“Hey guys we’ve cut the interest rates, look how well the economy is doing! Aren’t we so generous! The interest rates are lower so that means you’re paying less!”
That massive £25 a month reduction in mortgage will sure come in handy.
Great news.
Hopefully the trajectory on inflation will head downwards in due course.
Inflation is at 4.1% for June, with housing at 6.4%. The fact that they are cutting it to 4%… is a bit of a gamble. I am not sure what to make of it.
Currently, this to me is a bad omen, but let’s see.
Wonder how long it will take for the SVR on my mortgage to drop (currently 7.5%).
Before anyone jumps in, my outstanding mortgage amount is £47.26, I have monthly payments of 43p for the next 15 years.
Banks will say they have already priced this into mortgage rates as I can’t see any changes in my interest rate for my mortgage as I’m due to renew.
Can somebody tell me why this is a blow to Rachel Reeves?
I’m confused – is this a BLOW FOR REEVES, or BOOST FOR REEVES?
How much will this reduce how much the government has to pay on debt interest each year?