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IMF tells UK to consider rate cut to boost growth
http://x404.co.uk/forum/viewtopic.php?f=19&t=16472		 Page 1 of 2
Author:  pcernie [ Tue May 22, 2012 9:49 pm ]
Post subject:  IMF tells UK to consider rate cut to boost growth
http://www.bbc.co.uk/news/business-18158226

Oh dear... :lol:
Author:  jonbwfc [ Tue May 22, 2012 10:51 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
Jeez, if they cut the interest rate any more they'll be paying US money.
Author:  Linux_User [ Tue May 22, 2012 11:02 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
The lady Osborne is not for turning.
Author:  l3v1ck [ Tue May 22, 2012 11:36 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
Not rates left to cut -> quantitive easing -> very low annuities for those just retiring -> shafter pensioners.
Author:  Linux_User [ Wed May 23, 2012 12:04 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
l3v1ck wrote:
Not rates left to cut -> quantitive easing -> very low annuities for those just retiring -> shafter pensioners.

Lower economic output + weak economy + weak recovery = shafted everyone, including pensioners.
Author:  l3v1ck [ Wed May 23, 2012 6:45 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
But annuities are set for life. Once you've been given a crap one your stuck with it until you die.
The rest of us only get shafted in the short term.
Author:  paulzolo [ Wed May 23, 2012 8:36 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
Interest rates are at 0.5% last time I looked. If they drop any lower, then they will be so close to 0% that it’s idiotic. Now would clearly be a good time to take out a business loan.

The concern is that they could (and it’s theoretical - but possible) drop interest rates into negative figures. That will mean that anyone with savings would start to be charged for holding on to them. I can’t imagine that happening - there’d be people queuing up to take their savings out. But right now, as someone with a reasonable chunk of savings himself - I’m seeing bugger all interest being paid on it right now, and I wonder why I bother sometimes.
Author:  mikepgood [ Wed May 23, 2012 9:20 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
Perhaps it might be more sense to put in controls on credit card rates and makeit compulsory to repay a reasonable percentage each month. Some cards are 20%+ annual interest and only pay off 2.5/3% each month. Would take forever.

Perhaps make it 1%intertest per month max and pay off 5%
Author:  paulzolo [ Wed May 23, 2012 9:41 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
mikepgood wrote:
Perhaps it might be more sense to put in controls on credit card rates and makeit compulsory to repay a reasonable percentage each month. Some cards are 20%+ annual interest and only pay off 2.5/3% each month. Would take forever.

Perhaps make it 1%intertest per month max and pay off 5%


And store cards. Some have a phenomenal APR when compared to credit cards.
Author:  mikepgood [ Wed May 23, 2012 2:02 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
Do we mention payday loans?

1200% APR
Author:  l3v1ck [ Wed May 23, 2012 7:30 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
mikepgood wrote:
Do we mention payday loans?

1200% APR

I've seen some adverts for ones over 3000%. :shock:
Author:  MrStevenRogers [ Wed May 23, 2012 8:47 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
i wonder if this means that banks have run out of capital to pay any sort of interest on invested money ...
Author:  Linux_User [ Wed May 23, 2012 9:24 pm ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
l3v1ck wrote:
But annuities are set for life. Once you've been given a crap one your stuck with it until you die.
The rest of us only get shafted in the short term.

So we should screw everyone to help those few retiring this year?
Author:  l3v1ck [ Thu May 24, 2012 7:18 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
No, but you can't condemn them to poverty just to make it a tad easier for everyone else.
If the government want to help, they should stop taking about making banks lend the money they've been given by the BoE and actually make them lend the money.
Author:  jonbwfc [ Thu May 24, 2012 10:05 am ]
Post subject:  Re: IMF tells UK to consider rate cut to boost growth
l3v1ck wrote:
No, but you can't condemn them to poverty just to make it a tad easier for everyone else.

That's one end of the argument, the other end being 'the needs of the many outweigh the needs of the few'.

I have no idea which is more ethical.

Jon
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