Interest rates ....

What happens next do they pay us to borrow money ? do we pay them to look after ours ? not much room for maneuver now huh ? out of control init ?

 

I have no savings but have a mortgage so its win win

 

What's out of control?

 

no room for manoooover init

 

of course they'll always charge you to borrow ... they don't give it out free.

 

errrm you win against bank na

 

No never win against them but low rates are good for me, my Mum on the other hand would prefer higher.

 

they borrow it too thou , and rate is almost nil , so what do their lenders do ?

 

They start charging you to have money in the bank. That way they hope you take it out and spend it.

 

then everyone goes bankrupt , effics and business sense has gone out of the window , its greed ridden .

 

Joe public always gets the worst deal

 

they forget joe public can do a run on a bank and finish it too , the country is trillions in debt already, why , they want low interest rates coz they cant afford the" debt "they are running up " pop ,it will all go pop , houses wont be worth a penny . My grandad was right . They call themselves bankers , wrong letter used .

 

We're now in a political game where the Government want a low £ so we are more competitive (i.e. paid less) as a short term boost to the economy and so the Government can borrow more cheaply and spend the cash, so delaying raising taxes. Carney is either a grade A knob or just doing what the politicians tell him, or both. Clearly, this all goes belly up when the inflation from the low £ feeds through and rates have to rise again, no doubt too late to stop an overshoot. Rates should be up a bit and not down to keep the £ sensible and keep inflation under control. Politicians clearly have shorter memories than those of us old enough to remember the 70s.

 

16% INTEREST i was paying but i paid it and had the tuff to go with it , but im a better person for it , im not a greedy one .

 

when the fire went out , so you could get up the chimneys

 

But increasing rates is unlikely in a consumer driven economy ... won't household debt/higher interest rates lead to a slow down in spending and thence increase in unemployment etc.

 

16% was a good rate - I'm sure I was paying nearer 20% for my mortage in the early 70s - and inflation got so bad we had 3 wage rises in a year.