BOE cuts rate by 1%

[tricky69]

good news ? bad news ?

[Reevesy]

Linky?

[illmonkey]

not decided...
http://www.bankofengland.co.uk/monetarypolicy/deci...

[Adrian W]

True, it was just on the telly news

[SJobson]

I have a Halifax tracker mortgage, so I don't yet know whether it's good or bad news. The wording in the document is that it's at their discretion whether they allow the rates to go down below the collar. Since mine's a discount below base rate (was 2.64% from last month), I'm not exactly suffering anyway.

[chris watton]

illmonkey said:

not decided...
http://www.bankofengland.co.uk/monetarypolicy/deci...

It is now, cut by 1%, so rates are now at 2%!

[Graham]

I bet thats really screwed the pound... is it worth less than a euro yet

[illmonkey]

chris watton said:

illmonkey said:

not decided...
http://www.bankofengland.co.uk/monetarypolicy/deci...

It is now, cut by 1%, so rates are now at 2%!

I see now, literally refreshed and it changed!

[DucatiGary]

Graham said:

I bet thats really screwed the pound... is it worth less than a euro yet

when it is gordo will sell up and get us all on the euro, £1 = €0.50c

[theboyfold]

Graham said:

I bet thats really screwed the pound... is it worth less than a euro yet

I hope so, the only good news to come out of this for me (sorted my mortgage in August ) is my new job that starts in Jan means I get paid in Euros.

[merc_man]

As soon as the pound is at parity we'll have to go into the Euro. I bet old Gordo is rubbing his hands with glee a la Mr Burns.

[DucatiGary]

sterling = dollar = 1.45917

lowest i have ever seen it

[Don]

The collar I have on my tracker is now the thing that is setting the interest rate I'm paying on my mortgage. I'll only benefit about 0.4% instead of the full 1%. Arse. Still - I can hardly complain. I might be on a 6% Fixed Rater and currently getting very cheesed off...

[Andy Zarse]

Not only have the lunatics taken over the asylum but they've cut out their medication, set fire to B wing and are running round naked throwing their own sh*t up the walls.

[NotHappy]

It saves me a further £1800 per month in interest. It may enable me to 'survive' this recession. I look forward to 1% BoE base rate in January.

[anonymous-user]

Not good from a personal stand point, savings taken another masive hit, but hopefully good for the economy in general.

[theboyfold]

Don said:

Still - I can hardly complain. I might be on a 6% Fixed Rater and currently getting very cheesed off...

I can complain, the crystal didn't forsee this when the main panic set in and rates were going up and everybody thought that the well was going to run very dry very quickly.

[becksW]

I really wish we weren't on a fixed rate mortgage right now!

[Mr E]

Don said:

Still - I can hardly complain. I might be on a 6% Fixed Rater and currently getting very cheesed off...

Oh, it could be worse. You could have fixed at 6% and paid a thousand pounds for the privilege.

Bugger.

[oyster]

NotHappy said:

It saves me a further £1800 per month in interest. It may enable me to 'survive' this recession. I look forward to 1% BoE base rate in January.

Bejesus.... is that mortgage debt?