Expected Rate Cut Today

[nicebloke1]

Bank of England expected to cut rates today, good news yes? Great for mortgage holders, yes? All the hype about mortgages going up under labour? Naaa. Of course it will be disappointing news for the tory supporters. <:0) Keep up the good work SK.

[Old_Geezer]

It is disappointing news for all fair minded individuals who will realise that savers are going to be screwed even more than usual by being given next to nothing in exchange for the loan of their money.

[newmodarmy]

Yes, it's good news in the short term for those with tracker mortgages or variable rate mortgages who will see a modest reduction of around £15 per month on a £100000 mortgage. The cut has expected for some time as rates across the world have been falling due to worldwide factors such as oil/gas prices stabilising and inflation falling worldwide. 

Most mortgags now are on fixed rates though, so these families won't see any reduction.

The longer term picture for UK interest rates is not as favourable as it was before the election and before the Reeves budget. Longer term rates in the UK have been edging up (unlike in many other economies), due largely to worries about the effects of the budget,  public sector spending growth and lower forecasts for economic growth (so lower tax revenue).

And of course the latest cut is not good news for savers- and savers outnumber mortgage holders.

So nothing to celebrate.  Of course those who support or pretend to like everthing this government does, perhaps just to wind up those who may have supported the Tories, will claim it's a massive vindication of Labour's management of the economy... so they'll shout about it whilst ignoring the many failings on growth, WFA, stopping the boats, housebuilding, etc

[bednobs]

im a fair minded individual and i am not disappointed

[gulliver1]

NMA 17.05 C'mon now NMA. Loosen up.There is no need to feel so sad and bitter and twisted because you are on losing side . Your day will come in about twenty years time. When the Tory Party might get re-elected.That's if they can manage to radicalise the school kids of today ..Good luck.

[newmodarmy]

//There is no need to feel so sad and bitter and twisted because you are on losing side//

You're right and wrong at the same time. I voted for Labour in 2024 so I was on the winning side. But I've been disappointed and feel we're all losers. (Please note I was also a loser in the EU election as I voted Remain.)

As for being 'bitter and twisted' can you point out any examples of this in my post- can you find anything untrue in there? It's just an impartial view from me which seems to chime with the analyses of financial markets and economists.  

[gulliver1]

Davebro 15.26.. No I'm not .🤣 But it looks like you are..🤣

[DTCwordfan]

https://i.dailymail.co.uk/1s/2025/02/10/08/95046329-14379849-image-a-31_1739176660158.jpg

captions please

'Wayne Rooney is Back and Misses the Brexit Net?'

[webbo3]

From the BBC

\\Bank cuts interest rates and slashes growth forecast//

Slashes growth

[DTCwordfan]

sorry got that wrong - it's a posting...