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  • Bank Rate increased to 2.25% - September 2022

    From bankofengland.co.uk

    The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 21 September 2022, the MPC voted to increase Bank Rate by 0.5 percentage points, to 2.25%. Five members voted to raise Bank Rate by 0.5 percentage points, three members preferred to increase Bank Rate by 0.75 percentage points, to 2.5%, and one member preferred to increase Bank Rate by 0.25 percentage points, to 2%. The Committee also voted unanimously to reduce the stock of purchased UK government bonds, financed by the ... (full story)

expected to increase, however USD still the king.
Quoting junx0071984
expected to increase, however USD still the king.
yep
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Should the outlook suggest more persistent inflationary pressures, including from stronger demand, the Committee would respond forcefully, as necessary. - HAWKISH
Yeah let fire fall...we are waiting since
Big division within BOE, bad.
well in tiktok i have an analysis just search my name, "Jason Andallo"
Absolute shite. UK is dying.
increased to 2.25% however GBP/USD to down.someone can explain that?
Five members voted to raise Bank Rate by 0.5 percentage points, three members preferred to increase Bank Rate by 0.75 percentage points, to 2.5%.....I think GBP will be good for coming days
The activity before the release looked rather as though some players were positioning for the 'surprise' of a 0.75% increase rather than the expected consensus of 0.5%.
I miss the days of the 'Ken and Eddie show'. (Neophytes will wonder what the hell I'm talking about).

No11 and BOE have a bit of a chinwag, decide what to do - coordinate their efforts et Voila!

Also BOE still regulated the banks (something they were good at) instead of these ponsy acronyms that keep changing to something new every time they F**k up.
Quoting nbfx
I miss the days of the 'Ken and Eddie show'. (Neophytes will wonder what the hell I'm talking about). No11 and BOE have a bit of a chinwag, decide what to do - coordinate their efforts et Voila! Also BOE still regulated the banks (something they were good at) instead of these ponsy acronyms that keep changing to something new every time they F**k up.
. I'm amused by your first reference to the days of St. George and my beer-swilling, cigar-smoking MP, although I do suspect you're wearing some nostalgic rose-tinted glasses.
However, I can't say that the theory of independence of BOE and the auditors is going much better when they all seem too timid. The very worse situation that even the independents seem to want to deal with is the search for a soft-landing, as if they were politicians frightened to be elected out of a job, which is a bit of an oxymoron.
As we all know, Markets seldom behave rationally.
Quoting UnBearybull
Absolute shite. UK is dying.
There looks to be a counter action to interest rate rise tomorrow when thicko truss going to announce cut to stamp duty.

So far, cut in stamp duty has been widely rumoured for the past few days - if it does happen in the mini budget tomorrow, house price looks set to fly higher - worsen the inflation crisis. There will certainly be some short term candy to suck upon but when the sugar goes off, the next generation of ours are simply going to suffer.

And yes, I have long given up any hope on this self-serving tory government we have.

Time to kick all these politicians out...
Quoting DaJoWaBa
{quote} . I'm amused by your first reference to the days of St. George and my beer-swilling, cigar-smoking MP, although I do suspect you're wearing some nostalgic rose-tinted glasses. However, I can't say that the theory of independence of BOE and the auditors is going much better when they all seem too timid. The very worse situation that even the independents seem to want to deal with is the search for a soft-landing, as if they were politicians frightened to be elected out of a job, which is a bit of an oxymoron. As we...
I guess there probably is a touch of nostalgia there. But the system kinda worked. But in the final eventuality it was all about the Hush-Puppies...
Quoting NotBoris
Time to kick all these politicians out...
Yeah - All 650 of them!
Quoting nbfx
{quote} I guess there probably is a touch of nostalgia there. But the system kinda worked. But in the final eventuality it was all about the Hush-Puppies...
.
Quoting nbfx
{quote} Yeah - All 650 of them!
Not to forget the current spineless Speaker of HOC!
Quoting nbfx
{quote} Yeah - All 650 of them!
You ain't advocating for monarchy rule are you - the next gen is already a disaster in itself.
Quoting NotBoris
{quote} You ain't advocating for monarchy rule are you - the next gen is already a disaster in itself.
Goodness NO! I wonder if we shouldn't do a national search to find out who would least want to do it. And get those people who absolutely DON'T want the job. I'm sure they'de be rather better than those that do. In many cases they wouldn't be any worse. My definition of a Politician is "Lying, Cheating, Thieving, Backstabbing [email protected]@rd!" so the bar is set very low. I'd like to be proved wrong but sadly....
Quoting nbfx
{quote} Goodness NO! I wonder if we shouldn't do a national search to find out who would least want to do it. And get those people who absolutely DON'T want the job. I'm sure they'de be rather better than those that do. In many cases they wouldn't be any worse. My definition of a Politician is "Lying, Cheating, Thieving, Backstabbing [email protected]@rd!" so the bar is set very low. I'd like to be proved wrong but sadly....
There were recently, few that I still have respect of, who either quit or have their whip removed.

But heyho when it comes to power - its usually the case of power which overcome humanity rather than men containing power.
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