Bank Of England
Thu, 10/07/2010 - 17:59
by letthestressbeg...Base Rate.
I here on the news that the Bank Of England are going to leave the rate of interest at the rate it is currently at.
Well I for one am pleased they have not put it up as all the banks and credit card companies seem to follow suit but they seem to put theres up before the B.O.E announce there changes to it. I think they must inform them first to make a extra sly quid first before we all get hammered a second time round.
Craft hey.
I reckon that there should be a few more people happy about the fact it has not gone up and all those with mortages.
I myself have a couple of credit cards so good news for me at least. Come one then who else is happier about the news report.
Marc
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Is there a connection between the interest rates banks set and the Bank of England's interest rate?
Is there a connection between the interest rates banks set and the Bank of England's interest rate? Does the Bank of England control the retail bank's interest rates? Or do the banks set them independently of the Bank of England?
There is a conection between the two. When the BOE increases the rate this increases the rate that the retail banks have to pay back to the BOE. The retail banks naturally pass this on to their customers.How does the Bank of England put more money into circulation?
If the Bank of England buys gilts and bonds in order to increase money supply and stimulate inflation,
A) who does it buy them from? and
B) how does it get the money into circulation? Do they just give money away?
Ok I think I get it. I was thinking the BoE needed cash. But of course it's printing money and loans it to banks at the best rates imaginable. So then the banks have that extra cash to loan to others as they see fit. Interesting how they're more likely just to hold onto the money like a safety blanket!
Basically they buy them from pension funds, insurance companies etc who then have cash instead of bonds, they stick the cash in banks who can then lend it to others.
The BoE just print the money (well most money is just numbers in computers these days, so they just key it I suppose).
Robert Peston's blog on www.bbc.co.uk explains it well in layman's terms.when will the bank of england base rate start rising again?
my fixed mortgage deal has just come to an end and ive now been put on my mortgage providers standard variable rate which is 2% above the bank of england base rate, so im paying 2.5% at the mo, well happy! but when is it likely to start rising again? any thoughts?
anyone's guess but boy when it does bewareDoes the Bank of England loan money to the government and private banks at interest?
Does the Bank of England loan money to the government and private banks at interest?
If so what is this rate and where is this rate published?, is it the current bank rate displayed on the Bank of England homepage (http://www.bankofengland.co.uk/) which is 0.5%?
Surely if the bank does lend the government money at interest the result is just going to be perpetual debt?
This site might provide all your answers in England
http://www.moneyreformparty.org.uk/If I have a Bank of America account can I cash a cheque at Barclays bank in England?
Hi, i have an account with Bank of America but am now living in England and don't have an account over here, i was wondering if i would be able to cash a paycheck at Barclays bank?
Unlikely, you can usually only cash cheques issued by that particular bank. Id suggest you open an UK bank account for free, with £1, pay in your pay cheque, and you'll be able to get your money a few days later. (Usually 3 days for a UK issued cheque, but may be longer as its international)If the bank of England raise the interest rate do house prices usually come down?
I'm hoping to buy a house this year and the Bank of England have just added another 0.25% to the ineterest rates. How does this effect house prices?
Generally, it depends on how much they go up by. I would guess that this latest 1/4% rise won't cause house prices to come down, but it may slow down house price inflation. What we in the City are all asking ourselves is, because this seems to be a pre-emptive move by the MPC, will they go up again in the next few months. This may cause people to think again over taking out a large mortgage and, if the rate does go up by another 1/4% within the next quarter, I think we could see prices begin to fall.What should the bank of england be doing?
With the current financial situation, there's a lot of talk about BOE cutting interest rates, etc. I know the central bank works to maintain a stable financial system but how does it do that? There's supposedly a lot of pressure on the bank but what is it expected to do? In the short term, and over the next year or so? Sorry, just a little confused, thanks.
Cutting interest rate makes borrowing cheap and encourages economic growth. Increase interest rates strengthened the value of the pound and make imported goods and services cheaper, helps inflationary pressures. UK is an importing and tourism nation, I think it should be more concerned with inflation. With the current low oil price, the bank of england's strategy should be concern with a stable interest rate. In the short term interest rate should remain unchanged and in the next year interest rate should be strengthened.Can you use Bank of England notes in Scotland?
Received a Bank of England £20 note in my change today and paranoid that it's useless.
YesWhy is the Bank of England not tackling inflation ? How can it ignore its inflation target ?
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7945739/Bank-of-England-boss-Mervyn-King-set-to-write-inflation-letter-to-Chancellor-George-Osborne.html
Why have they not put up interest rates to realistic levels before inflation really kicks off ?
The biggest problem is the fact that interest rates have been kept artificially low to prop up house prices. Quantitative easing will cause inflation, another Labour policy that was never fully thought out. Expect interest rates at 5%+ within a year.Who owns the Bank of England and the FED?
The bank of England and the FED are both private banks who issue currency for profit, but who owns them?
I already know that they are not publicly owned, both are private, and linked to the rothschild family, but that still does not give me an owner I require.
The people of Great Britain and the People of the United States of America respectively.
Well, it's all politics. This country is in a very bad state - but politicians wants to control the message and are desperate to tell us otherwise. The inflation figures are a joke too. I look at my bills and I KNOW things have been getting dearer, not the fantasy numbers presented by the Government. So not surprised by the BoE rate. But I would bet on a very steep rise in less than 12 months. Pay off those cards now - soon you'll need whatever you have left to pay for the mortgage. Either that or migrate!
Yes they do give us all these dodgy numbers. I think they must make them up so as it sounds better than what it is. Do they really think we are that stupid ? ?. May be they have convinced them selfs by reading there figures that much that could be why we are in the state we are.
Huh Migrate hey, well if the Bank Of England drops that base rate a bit more we may be able to emergrate.
I know what you mean about when you say if you have an outstanding balance on a credit care or two and they always seem to know first before we do and they get there bit added on.
But all the same I guess we will have to make do and at least it is not going up just yet.
Mouse
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