Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Jimbob on 08 January 2009, 12:02:54
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How much lower will they go? Surely not much further!
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
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How much lower will they go? Surely not much further!
Savings rates soon to follow I suppose.
Yorkshire Building Sociiaity 3.75% gross (was 6.5% not so long ago.)
Halifax 1.16% gross
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Yet they're already saying that mortgages won't be coming down any further. Damn you Northern Rock >:(
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How much lower will they go? Surely not much further!
Yep .....the lowest since the Bank of England was founded in 1694.......good news for people with mortgages......if the greedy bastard banks pass it on......further bad news for savers......that's life. :y :y :y :y
Rates are 0.0% in the USA......it is possible that it could happen here........at times like these ...I'am glad that I don't have a pot to piss in (savings).....but do have a mortgage. :y :y :y
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I wonder what they believe there is to gain by reducing rates like this?
As said, it screws anyone with savings but doesn't get passed on to borrowers, so won't free up consumer spending (as if borrowed consumer spending isn't one of the reasons we're in this mess!).
The problem is that banks won't lend, not the cost of that lending.
Let's ignore the baseball bat that's been shoved through the spokes and keep trying to pump that damn tyre up! >:(
Kevin
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I've got a fixed rate anyway so it doesn't really affect me, but I bet as soon as my fixed rate comes to an end, the interest rates will be back to normal :(
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All good, Im on a tracker with no floor rate....
And rates will go down to 0% ;)
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Bad news for everybody.....I suspect the cost of goods will sky rocket due to the resultant low value pound....
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Bad news for everybody.....I suspect the cost of goods will sky rocket due to the resultant low value pound....
That is indeed the other side....i think todays rate cut would have been MUCH more IF the £ was not getting battered....
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its the works of a desperate govt, lower interest rates, creating 100,000 jobs out of thin air and there is talk of printing money to get ease the recession as darling puts it. :-/
http://uk.news.yahoo.com/21/20090108/tuk-darling-mulls-money-printing-plan-6323e80.html
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Which brings us full circle onto the 'Should we join the Euro' debate.
Runs and hides..... :-/
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Which brings us full circle onto the 'Should we join the Euro' debate.
Runs and hides..... :-/
i am english, not british, not european, and i never will be. i cross out forms that say british and put english. i measure everything in imperial, unless i have to. ask a 15 yr old how many 1/8's in an inch and you can have a good laugh. ;D ;D
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The way it's going, down to 0% as in the States. :D :D :D
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
I dont think pensioners should be allowed to have any savings. I think it should be taken off them and given to young people so they can binge-drink and buy hoodies. That would stimulate the economy and everything would be ok. :y
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
I dont think pensioners should be allowed to have any savings. I think it should be taken off them and given to young people so they can binge-drink and buy hoodies. That would stimulate the economy and everything would be ok. :y
Yep STMO, joking aside, the economy does not need savers now (ironically) but spenders who can give the market economy a boost, which is exactly what the drop in interest rates is meant to encourage along with assisting British exports. 8-) 8-) ;)
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
I dont think pensioners should be allowed to have any savings. I think it should be taken off them and given to young people so they can binge-drink and buy hoodies. That would stimulate the economy and everything would be ok. :y
they all say there skint anyway, take away there heating allowance, that'll make em spend it, either that or freeze them to death ;D ;D
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
I dont think pensioners should be allowed to have any savings. I think it should be taken off them and given to young people so they can binge-drink and buy hoodies. That would stimulate the economy and everything would be ok. :y
they all say there skint anyway, take away there heating allowance, that'll make em spend it, either that or freeze them to death ;D ;D
Sounds like a good plan ;D ;D ;D ;D
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Mmmmm me thinks I should take out a mortgage :D
Bar Steward...take away there heating allowance, that'll make em spend it, either that or freeze them to death ::) ::)
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They need a heating allowance like mine. (A broken leccy meter)
Kevin
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They need a heating allowance like mine. (A broken leccy meter)
Kevin
Suggest you ask the Mid-Hants for some piped steam to your house Kevin! ::) ::) :D :D :D ;)
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They need a heating allowance like mine. (A broken leccy meter)
Kevin
Suggest you ask the Mid-Hants for some piped steam to your house Kevin! ::) ::) :D :D :D ;)
Safety valve normally blows about level with my back garden on the way down the hill so they're close already.
I was thinking about asking if they want me to electrify that section, but they're fixing my meter on the 15th. ::)
Kevin
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They need a heating allowance like mine. (A broken leccy meter)
Kevin
Suggest you ask the Mid-Hants for some piped steam to your house Kevin! ::) ::) :D :D :D ;)
Safety valve normally blows about level with my back garden on the way down the hill so they're close already.
I was thinking about asking if they want me to electrify that section, but they're fixing my meter on the 15th. ::)
Kevin
Yes, and the boiler is usually around 250 psi at that point on the larger engines, so imagine what that could do if you could 'capture" it!! :D :D ;)
As for electrification Kevin, you have it the wrong way round. Persuade them to electrify that section (for their EMU's that they could then buy) and then put an induction coil down to provide power for your house! 8-) 8-) 8-) Now that would be cheap lecky!! :D :D ;)
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
its funny you should say that Entwood.......
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article5469589.ece
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
its funny you should say that Entwood.......
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article5469589.ece
What a stupid tw*t
The whole point of my savings is to allow me income to spend in future years. If I spend the capital as this tw*t suggests, I'll have nothing to give me income later, so will become reliant on the state to support me, so increasing the tax burden.
Its a wonderfully stupid idea ... short term fix that actually makes the long term problem worse ... but thats what most politicians seem to do ... think about today and not tomorrow ... it was this sort of thinking that got us into this mess in the first place.
:(
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
its funny you should say that Entwood.......
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article5469589.ece
What a stupid tw*t
The whole point of my savings is to allow me income to spend in future years. If I spend the capital as this tw*t suggests, I'll have nothing to give me income later, so will become reliant on the state to support me, so increasing the tax burden.
Its a wonderfully stupid idea ... short term fix that actually makes the long term problem worse ... but thats what most politicians seem to do ... think about today and not tomorrow ... it was this sort of thinking that got us into this mess in the first place.
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You disagree then?
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Slightly ........ :)
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Which means savers rates will drop again .. :(
I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
its funny you should say that Entwood.......
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article5469589.ece
Indeed!! In the 1970's, some Swiss banks charged their customers for the privilege of depositing their money with them.
I suspect that, whatever happens to base rates, very little will change in terms of consumer rates for some time.
On the up side, my company has started this year better than any in the company's history. Of course, one good week doesn't tell us very much but, despite what the BBC tells us, the world hasn't stopped spending money. Perhaps we are just being careful that we get good value???
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Yet they're already saying that mortgages won't be coming down any further. Damn you Northern Rock >:(
Im stuck with NR...but surely as its government owned it will put pressure on them like before.
Ok ok i admit im just hoping they will. ;D
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Bad news for everybody.....I suspect the cost of goods will sky rocket due to the resultant low value pound....
Someone talking sense at last!
Its bad news. If it goes lower, then the option is to print more, which devalues pound even further, and that will lead to massive inflation, so interest rates will have to go up, but the country won't be making enough to be able to cope...
All very grim.
I am on a base rate tracker with no collar, so I am saving money. But only whilst my employer is making a profit, and can afford to employ me....
To show how things have already started to increase, the current price of the OOF server purchased just before Christmas has already increased over 10%, and technology is a sector you expect to see reductions in price.