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The Bank of England has raised interest rates by a further quarter of a percent to 5.75% - its fifth rate rise since last August.
The Bank of England has raised interest rates by a further quarter of a percent to 5.75% - its fifth rate rise since last August.
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With the ECB holding steady at 4%, is one of Gordon Browns tests for the Euro been passed?
Link from todays news here on ECB rates: http://news.bbc.co.uk/2/hi/business/6272690.stm
Shame. Britain will never adopt the Euro - they like the old bags picture on their bank notes too much
One of the moderators on here really wrecks my head with his/her power mad ego
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Another reason for a united Ireland for me
Shush, if you drag this off topic you'll be removed from the site.Originally Posted by cullyhanna_man
Another reason for a united Ireland for me
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You'd think the ECB were on an extended pause at 4% and weren't going to go higher the way yer talking Thac0man...they only raised last month! ECB rates are still on course to hit 5% around May 08.
Je suis un loo-lah
The've only had the queen on the notes since 1961, and there are 11 issuing authorities in the UK issuing Sterling notes. Of them, only 4 of them have portraits of the 'ould bag' as you so eloquently put it.
They stayed out of the Euro because so much of their economy is leveraged on property. No other economy has that. Except......
Ireland.
Its just down to excess liquidity. It takes 18 months for it to be known how 'effective' the brakes are on the economy.
It's funny how this will yes make the news on UK television but will soon be old news as people get on with their daily lives.
Why is it that we (in Ireland) are obsessed with interest rates and would go on about this for weeks on end.
Because we're the most indebted citizens in the whole OECD, basically....and because house prices have become, for far too many people, what defines their worth as a person. Yer a failure in Bubble-land if you don't have a ridiculous jumbo mortgage and a massive credit card balance.
Je suis un loo-lah
I think you'll find that with over a trillion sterling in debt (I think that may be the unsecured figure, although I'm not sure), private British citizens are in fact, more indebted than the Irish, sure I've seen recent newspaper reports saying that, here, in Britain. And people obsess about property and interest rates here just as much. House prices in London, according to the most expensive cities to live in list last month are $2300 per sq foot as opposed to Dublin's $470. Repossessions here are soaring and the papers are full of "what to do if you're drowning in debt" articles. People keep saying that the euro means the Irish have no way of controlling interest rates, with knock on effects on the economy. But, albeit always a % or 2 higher, the rises and dips of the self controlled BoE roughly mirror those of the ECB, and no-one in their right minds would look at the British property market as a good investment right now... we are where the Irish were last summer, I think.
The floggings will continue until morale improves
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