Bank of England rates remain at record low, but could be further cut

Friday, September 16th 2016 - 07:06 UTC

Full article 4 comments

The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain's economy would be less severe than it expected only last month. The Bank said its nine rate-setters were unanimous in their decision to keep Bank Rate at its new record low of 0.25%, the lowest in the BoE's 322-year history. Read full article

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ChrisR
The only cut that is required is in the contract of service of the Canuck who more than anyone mistook the situation up to Brexit and the sacking of Hammond who seems bound and determined to make the UK debt a permanent millstone around taxpayers necks.

'Tits' May needs to get better advisers before she goes 'Tits' UP.
Sep 16th, 2016 - 07:01 pm - Link - Report abuse 0
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Briton
I don't like the new funny money,
the fiver is smaller and don't feel right.
Sep 16th, 2016 - 07:34 pm - Link - Report abuse 0
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DemonTree
@1 ChrisR
All these policies are completely orthodox, you'd have a hard time finding replacements who wanted to do anything different.

Do you think you can rewrite the laws of economics to work the way you'd like?
Sep 16th, 2016 - 09:32 pm - Link - Report abuse 0
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ChrisR
@ 3 DemonTree
“Do you think you can rewrite the laws of economics to work the way you'd like?”

What 'laws' are these then? The failed statistic based ones looking forward?

Or the “we have done it this way and it has never worked, but it will this time, I feel it”?

I prefer the ONLY true law about economists:

Put 6 economists in a room with a problems involving economics and set the goal 'solve it and put the plan in writing'.

Guess how many plans were presented?

1) Don't know, they are still writing, crossing them out and writing others;
2) 12. Based on 'it might be this or it could be that'.

That is why the BofE has many economics 'experts' on the committee, it allows them to give the odds of success each month. They are always wrong as well.
Sep 17th, 2016 - 12:49 pm - Link - Report abuse 0
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