bluemonday Posted December 4, 2008 Share Posted December 4, 2008 Clicky Bank cuts UK rates to 57-year low Question being, will the banks pass on the benefits? Link to comment Share on other sites More sharing options...
Slim Posted December 4, 2008 Share Posted December 4, 2008 ClickyBank cuts UK rates to 57-year low Question being, will the banks pass on the benefits? Not in full to the svr's, I don't think, only if you've a boe rate tracker. I've a very smug mate on a discount tracker who's now looking at 0.99% Link to comment Share on other sites More sharing options...
Mission Posted December 4, 2008 Share Posted December 4, 2008 Awaits letter from bank. Link to comment Share on other sites More sharing options...
Shill Posted December 4, 2008 Share Posted December 4, 2008 Carrys on like this the Halifax will be paying me for my mortgage Link to comment Share on other sites More sharing options...
Tempus Fugit Posted December 4, 2008 Share Posted December 4, 2008 doom and gloom for investments and pensions though Link to comment Share on other sites More sharing options...
Mutley Posted December 4, 2008 Share Posted December 4, 2008 woo hoo. Trackers ftw. Pity it missed the start of the month though. Link to comment Share on other sites More sharing options...
GD4ELI Posted December 4, 2008 Share Posted December 4, 2008 doom and gloom for investments and pensions though Work until you're 80 - you know you have want to. Link to comment Share on other sites More sharing options...
Cambon Posted December 4, 2008 Share Posted December 4, 2008 doom and gloom for investments and pensions though Work until you're 80 - you know you have want to. Well, the UK better hope for a miracle otherwise broon will link to the Euro at a 1-1 rate in a couple of month's time making the average wage in the UK equivalent to a street sweeper in Europe. Labour has sold out the country - again!!! Link to comment Share on other sites More sharing options...
GD4ELI Posted December 4, 2008 Share Posted December 4, 2008 doom and gloom for investments and pensions though Work until you're 80 - you know you have want to. Well, the UK better hope for a miracle otherwise broon will link to the Euro at a 1-1 rate in a couple of month's time making the average wage in the UK equivalent to a street sweeper in Europe. Labour has sold out the country - again!!! 1:1 is on the horizon - Britain doesn't really make much these days. Here in Switzerland I pay my mortgage every 3 months - in December I'll be paying half what I paid at the end of September. So I win on the mortgage but lose a packet as the pound becomes worthless :-( Link to comment Share on other sites More sharing options...
Slim Posted December 4, 2008 Share Posted December 4, 2008 Well, the UK better hope for a miracle otherwise broon will link to the Euro at a 1-1 rate in a couple of month's time making the average wage in the UK equivalent to a street sweeper in Europe. Labour has sold out the country - again!!! Yeah, because this crisis is limited to the UK... Link to comment Share on other sites More sharing options...
Cambon Posted December 4, 2008 Share Posted December 4, 2008 Yeah, because this crisis is limited to the UK... This is nothing to do with the crisis - it has been broons aim from day one and he is achieving it well. He has already nationalised 2 banks (RBS and NR), will possibly be nationalising two more (HBOS and LTSB). The government can then direct them to do anything - as we are already seeing. Link to comment Share on other sites More sharing options...
Slim Posted December 4, 2008 Share Posted December 4, 2008 This is nothing to do with the crisis - it has been broons aim from day one and he is achieving it well. He has already nationalised 2 banks (RBS and NR), will possibly be nationalising two more (HBOS and LTSB). The government can then direct them to do anything - as we are already seeing. Oh right, it's just a coincidence that the same thing is happening in every other country? Link to comment Share on other sites More sharing options...
P.K. Posted December 4, 2008 Share Posted December 4, 2008 What nonsense. The UK banks irresponsibly gave out far more in loans than they received in deposits. These loans had dodgy security attached to them i.e. a 130% mortgage means the debt immediately exceeds the security. Because of the deposits shortfall they made up the difference on the open market. That then squeezes shut and down they go. Low rates of 2% will NOT encourage depositors, so in a way it's a lose/lose. Did that nice Gordon Brown order the likes of Northern Crock to behave in such an unbelievably irresponsible way? Or was it just those in charge of Crocky looking at the biggest bonus they could amass no matter what the fallout? Hmmm - I wonder.... Link to comment Share on other sites More sharing options...
pongo Posted December 4, 2008 Share Posted December 4, 2008 ... but lose a packet as the pound becomes worthless :-( I hope that this brings forward the day when Britain joins the Euro. It would be nice if sterling could be abolished sometime before it reaches parity with the Euro. But I'm not betting on it. Unfortunately British public opinion was brainwashed by the euro-sceptics. Link to comment Share on other sites More sharing options...
Cambon Posted December 4, 2008 Share Posted December 4, 2008 Oh right, it's just a coincidence that the same thing is happening in every other country? It isn't though. Quite simple, the Pound has lost massively on the open parket to virtually ALL other currencies, most importantly the Dollar and the Euro. Euro now at 86.5, a year ago 73.5, 2 years ago 67.1 (67-73 is about normal). If the pound value is driven down much further it will be a 1 for 1 straight swap. Broon has less than 2 years to do it because he aint getting back in after the next election. Link to comment Share on other sites More sharing options...
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