Both sides arguments were poor if we're honest - IMO the Brexiteers came out on top in the "porky pies contest" whilst the Remainers won the "gross exaggeration stakes". ATB, Scfc PS. I am now convinced that May is (and was) more for Brexit than Boris!!!
With the uncertainty of Brexit hovering and most businesses holding back or even taking steps to reduce exposure to uk market, I can imagine the BOE will be reluctant to increase rates until there is a degree of clarity at the end of brexit talks and see a hike around 2020. The global economy is teetering on the edge of a recession and is unlikely to take any drastic measures to tip the balance.
Re16'29 , we're all armchair economists and agree in your observations . The problem as I see it that UK GDP growth has been revised down 4 times so far this year , despite the fall in Sterling , we might just be a small island in the Atlantic , but the repercusions of our Ref decision will be felt throughout the world , an imbalance has occurred,which will cause Sovereign defaults on debt and a subsequent domino effect .Take this week, US banks Q3 figs, extra profits earned from bond trading, not everyday banking activities .Being female, I am certain you have money set aside for a rainy day, as there will be mega bargains in due course. As always ,jmo
Anyhow good luck with the brexit debate. I am sure it will continue long into 2019. I'm away for the weekend. In case your interested I'm going to play 18 holes on my nice big shinny extravagant yacht. Brits ahoy! Have a good weekend everyone. <3
Cathy: I think that people seem to forget that the way capitalism works has and always will be that those with money want apart from more money, something big,shinny and extravagant. The money they have pays someone who also wants money,for his time in building that something big, shinny and extravagant thing. That way money eventualy works its way down the line to those who through no fault of they're own on most occasions are at the bottom rung of the ladder. That's the way things worked even before the word capitalism had been invented. The bank throwing money at a problem is and can only diminish the value of that money. So there fore those at the bottom rung of the ladder are hardest hit because the value of their money means a lot more to them than those with money. I agree that QE is no good to the poorest but people also believe raising interest rates hits the poorest however By this argument alone at least raising interest rates makes the poorest money earn a little rather than loose a lot. It's just a case of balance. And on the balance of that I'm saying February U.K. First interest rise. May profits for the banks. IMHO. Buy rating to be had here.
keltickilla - we had figures of what was expected - including 2.4% growth - documented in the everyday system. The great failing before the Referendum was not to find a way to transfer of money to the areas hardest hit by slow down. That has to be a failing of QE amongst other things. That might have buoyed the markets up, but it meant richer people were awash with money while the poor got poorer. Finding a way to spend that on the social infrastructure and depressed areas would have made a big difference. As it was people on benefits were blamed for the economy and targeted, Now immigrants and the EU are being blamed. There is no sign Theresa May will live up to hr promise of an economy which works for al through Brexit. More likely her rich pals will cream more off. in my opinion anyway.
John46 Well they said there would be problems, and actions were taken which helped soften those. Most economists, experts in that field seem to say the actions were right and avoided job losses. There are some signs of slow down even with the rate cut and alarmed noises coming from business but no job cuts and no house price crash.
To mitigate the shock there was an interest rate cut, QE and the chancellor of the exchequer told everyone they had it in hand and there would be a supportive budget coming up. That is not too far even from what Osborne said would be needed, although he made the mistake of making his words sound too alarming. I would rather have people sounding a warning and taking action than what happened with the credit crunch, people saying everything was ok and then waking up to disaster. That is how the BOE tried to handle this I believe.
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