Interest rate to rise to 5 % in a matter of weeks

[severnside gull]

Well thank you HB&B. This is great news.

On the advice of those on here who last year predicted an immediate and massive crash in house prices I had already sold my property and was seeking investment opportunities pending the opportunity to re-buy at the bottom of the market.

Thanks to your excellant advice I now know that all I need to do is stick my money in the building society and wait for interest rates to rise!

Thank God I shall now be able to sleep comfortably at night (especially having removed the wads of fifty pound notes from under my mattress** which is where previous advice on here suggested I might as well keep it).





**shame about the £50K I couldn't squeeze in to the mattress - I put it on a certainty courtesy of Uncle Spielburg but unfortunately it went lame on its way to the starting gate - who would have believed it!

 

[supaseagull]

Isn't this taken from Sky News? How often do they use sensationalist journalism to grab a few headlines.

Interestingly enough, having read up on this, most sensible and credible financial analysts have predicted that rates will rise but only to around 3% - 3.5% by the Autumn of 2011.

 

[Uncle C]

Having sat through Jeff Randalls Christmas Dinner on Sky News last night, who was talking to Bob Diamond (head of Barclays), Sir Stuart Rose (M&S) and Carolyn McCall (chief exec of EasyJet), they all said that interest rate "might" start to rise just a little towards the back end of 2011. I think I know who I'd rather take advice from.

So thats the advice of a senior BOE official vs the head of one of the banks that got us in the mess, a shop keeper and a glorified air stewardess.

Difficult call.

 

[Uncle C]

Isn't this taken from Sky News? How often do they use sensationalist journalism to grab a few headlines.

Interestingly enough, having read up on this, most sensible and credible financial analysts have predicted that rates will rise but only to around 3% - 3.5% by the Autumn of 2011.

Thats the figures that I have read most, but of course morgage rates may well be more.
But, there should be no cause for concern as those people on record low repayments would have been paying off capital, or saving for just this rainy day.

 

[simmo]

And yet if you read this posted only yesterday, right at the very bottom another so called analyst states "would mean the MPC keeping rates at 0.5% until at least late-2011 and very possibly into 2012"

BBC News - UK economic growth revised down

The headline and story in the original post are just pure sensationalism, quelle surpise.

To be quite honest you read all of these analysts and none of them truly have a clue and say conflicting things.

I don't think it will stay at 0.5% throughout 2011, but will not get up as high as 5%. 2% by 31/12/2011 would be my guess. Inflation isn't rampant I mean c3.5% is hardly Germany 1920's, the housing market is still very flat and the economic outlook is very much on a knife edge, what with the Cuts, the crisis with some Eurozone countries (which I am sure will come back in 2011) etc.

 

[Jimbo.GRFC]

Carnage with a capital C for some relief for others.

Homeowners 'Beware Rate Rise To 5%' - Yahoo! UK & Ireland Finance

On this occasion you have just made a twat of yourself, the g'vnor of the bank of England has already declared no potential interest rate rises until the end of 2011 at the earliest. Thread closed !

 

[El Presidente]

Timmy can ADVISE me anytime on matters FINANCIAL and a little BIRD tells me that he has the EAR of Tony Bloom too

I just hope that he does not have the penis of GUPPY though