August 7th, 2013

Three More Years of 0.5% Interest Rate


83 Comments

  1. 1
    Post Office savings Book says:

    No respite for savers then.

    Like

    • 4
      Lord Sir Domly Dom says:

      But great news for borrowers. I should have one of my bigger loans repaid by then and will be able to afford the increase in mortgage rate when it happens.

      Like

    • 12
      Liar.Politicians says:

      It is a disaster for savers, and if they were smart they would take out their money (they are already paying the banks / building societies to hold their moeny with real negative interest rates).

      Savers should also invest in gold and silver, so they have something to bargain with when the UK economy collapses along with the US with all the Quantitative Easing, Funding for Lending, Help to Buy government FRAUDS.

      The UK is now a Ponzi economy, and it’s only time before it collapses, do yourself a favour and protect yourself from the crooks in the government, Bank of England, and City.

      Like

      • 20
        Carry Hole is a porcine homunculus says:

        It’s great news for rent-seekers, and terrible news for everyone who works.

        Just the sort of thing to ensure we’re mired in recession for a few more years of capitalsocialism (welfare state for land-owners and money lenders).

        Like

      • 43
        Anonymous says:

        Savers are social outcasts who are holding back the economy and should be removed from society. They are the evil.

        The missing link is that savers were once the source of funds for true investment. Now their money does not actually exist. It is a fiction of the system. Forcing it to be removed might help bring down the system. During change, those in charge always prosper.

        Why relate anything to employment. When that is the one issue over which he has no control. It is like running bar where the customers are allowed to bring their own bottles. Some you know are wrong. Especially those that pretend to do magic.

        Like

        • 73
          Liar.Politicians says:

          Without capital, there is no Capitalism.

          No wonder the UK economy is f’cked with the theft from savers to priop up broke borrowers.

          Your hatred of savers is conter productive, as the UK eocnomy continues to tank, onl;y relying on frauds like QE, Funding for Lending, ZIRP, Help to Buy to pretend there is real economic growth, where there is none. To prove the UK is f’cked, raise interest rates right now and see what happens.

          Like

    • 65
      Savers and pensioners unite, no more free loans to Osborne! says:

      We should all draw out our savings in protest. Then Cameron and Osborne would be stuffed big time.

      Like

  2. 2
    Beefeater says:

    Has anyone made sure that traitors gate is oiled and ready ?

    We may be needing it soon.

    Like

  3. 3
    Was Tonto a whitey? says:

    Like

  4. 5

    Do they expect that to become a reality by persistently cutting jobs?

    Like

    • 11
      Uncle Bulgaria says:

      They intend to carry on bringing in more cheap East European immigrants, so I don’t see how they are going to get the unemployment rates down to 7%

      Like

      • 15
        Killer Truckers says:

        Mate of mine has driven trucks all his life and has a list of quals as long as your arm. He can no longer compete with the Polish drivers who pay next to bugger all for their licences and do bugger all for them.

        About time the BBC looked at their beloved EU and investigated the standards required to be an East European trucker and how they are now driving British Trucks on British roads perfectly legally but which those in the trade say very dangerously.

        Like

      • 17
        Killer Truckers says:

        Mate of mine has dr1ven trucks all his life and has a list of quals as long as your arm. He can no longer compete with the Polish drivers who pay next to bugger all for their l1cences and do bugger all for them.

        About time the BBC looked at their beloved EU and investigated the standards required to be an East European trucker and how they are now dr1ving British Trucks on British roads perfectly legally but which those in the trade say very dangerously.

        Like

      • 19
        Killer Truckers says:

        Mate of mine has dr1ven trucks all his life and has a list of quals as long as your arm. He can no longer compete with the Polish dr1vers who pay next to bugger all for their l1cences and do bugger all for them.

        About time the BBC looked at their beloved EU and investigated the standards required to be an East European trucker and how they are now dr1ving British Trucks on British roads perfectly legally but which those in the trade say very dangerously.

        Like

        • 71
          Biased Broadcasting Corporation says:

          BBC investigate the EU?! Haven’t you noticed they’re running a ‘We (the BBC) love Germany’ Week on BBC1? Brainwashing for the masses.

          Like

      • 23
        Carry Hole is a porcine homunculus says:

        It has more effect on wage costs than employment.

        Working classes always find something to do, just at a lower pay. Good for the rent-seeking classes too as rents are also higher.

        Lose Lose for you, win win for “them”.

        Like

        • 79
          Goldbergsocks and the three bears says:

          How have you missed that we always had a cunning plan? Who do you think has all the gold now? You Brits really are dim.

          Like

    • 26
      Iain Duncan Shithead says:

      I will produce as many new zero hour contract jobs as the Conservative Party requires to fiddle the figures.

      It’s not rocket science, even I can do it.

      Like

      • 36
        mad, swivel-eyed loon says:

        Yes, zero hour contracts on minimum wage, with 24/7 mandatory call out.

        This is the way forward.

        Said in jest, but worried that it will become the truth.

        Like

        • 51
          Anonymous says:

          I wonder how it is accounted. Could we have people running two zero hour contracts in parallel, and be classed as two workers.

          That could end up with negative unemployment.

          Zero hour contracts are only as good as those allocating them. If the allocation system is infiltrated then anything goes.

          Like

          • mad, swivel-eyed loon says:

            Then you have the one step, with companies such as some low-cost supermarkets, that give you a 20 hour contract and then call you in as and when they need you.

            They can also send you home at any time if it gets quiet. I was sitting outside one last Saturday waiting for it to open. I saw a girl walk past the car in her uniform and go in via the staff entrance. Two minutes later she walked back to her car and drove off, obviously had been told she was surplus to requirements that day.

            I imagine that if you don’t come in at short notice whenever they phone you, that’s the sort of thing that could happen to you.

            Like

          • mad, swivel-eyed loon says:

            Then you have the one step, with companies such as some low-cost supermarkets, that give you a 20 hour contract and then call you in as and when they need you.

            They can also send you home at any time if it gets quiet. I was sitting outside one last Saturday waiting for it to open. I saw a girl walk past the car in her uniform and go in via the staff entrance. Two minutes later she walked back to her vehicle and d r o v e off, obviously had been told she was surplus to requirements that day.

            I imagine that if you don’t come in at short notice whenever they phone you, that’s the sort of thing that could happen to you.

            Like

        • 53
          Gawd Help Us says:

          Are these people on zero contracts with ”secure” hours and wages the very same people they want to take out all their low interest loans and mortgages?

          Like

  5. 7
    He was only taking the piss says:

    England cricket star Monty Panesar has been fined by police after being caught urinating on nightclub bouncers in Brighton, the BBC understands.

    The spin bowler, who plays for Sussex County Cricket Club, was fined for being drunk and disorderly outside the Shooshh club early on Monday morning.

    Sussex Police said a 31-year-old man had received a fixed penalty notice for being drunk and disorderly.

    Sussex County Cricket Club said it was investigating the incident.

    It said in a statement: “Sussex County Cricket Club can confirm that an incident took place involving Monty Panesar in the early hours of Monday August 5.

    “The matter is under full investigation and the club will make no further comment at this stage.”

    Panesar was part of the 14-man England squad that retained the Ashes at Old Trafford on Monday but did not play in the match.

    Like

    • 16
      Midnight says:

      “Caught urinating on nightclub bouncers”?

      I have an image of a bunch of boucers standing around gormlessly while blissfully unaware of being pissed on. Somehow I doubt it.

      Like

  6. 8
    UKIP are racist? I didn't see that coming! says:

    Like

    • 48
      Jimmy's Rightie Quote Of The Day says:

      “”We’re asking Godfrey not to use this phrase again as it might be considered disparaging by members from other countries””

      [lemon party sets out its zero tolerance policy on racism]

      Like

    • 57
      mad, swivel-eyed loon says:

      Good on Geoffrey.

      According to the paper, he told them: “What’s wrong with that? I’m not a wishy-washy Tory. I don’t do political correctness. The fact that the Guardian is reporting this will probably double my vote in the north of England.”

      Like

  7. 9
    Col. Robin B'stard says:

    Should stick it up to 18%, to stop the plebs from buying property.

    Like

  8. 10
    Pat for PM says:

    Like

  9. 13
    Gibraltar says:

    Spain backing down? I don’t believe it. What did Cameron give up in return?

    Like

  10. 24
    Spanish Practices says:

    Like

    • 29
    • 32
      Anonymous says:

      You big tough bastard you.

      Like

      • 37
        Mad, Bad & Dangerous Gordon McRuin ( Member in absentia ) says:

        I’d just roll over and sign another Treaty.

        Like

      • 39
        Dave says:

        Nothing I do is ever enough for you people.
        If I said I was going to do nothing you’d all bleat.
        If I said I was going to invade Spain you’d all start crying and ‘stop the war’ marching.

        You people don’t know what you want. That’s why you’ve got a coalition. Its YOUR fault, not mine, you morons.

        Like

    • 54
      Anonymous says:

      I think he just agreed their access to the waters.

      Or maybe it was the subcontracting of the services to Spanish authorities. Sovereignty is not an absolute with Cameron as we all know.

      Look at our Sovereignty with regard EU. We can not even control which criminals enter.

      So any assurances are meaningless from the delusional one, that rewrites the dictionary daily.

      Like

  11. 33
    Ed Balls - Shallow Chancer says:

    :( :( :(

    Like

  12. 38
    Owen Jones,just another champagne socialist says:

    It’s “Black Wednesday” all right !

    FTSE 100 6526.71
    Down
    -77.50 -1.17%

    Another crate of Bollinger please,Paul.

    Like

  13. 41
    Investor says:

    My ADVFN page is a sea of red following Carney’s disastrous speech.

    Like

  14. 42
    Vote UKIP get Hard Labour says:

    An immigrant arrives from Canada, and a few weeks later, Britain is booming.

    Like

  15. 46
    Raptor says:

    Unemployment will never be allowed to fall to 7%. The Government will arrange for the figures to be “adjusted” so that the present fraudulently-low interest rates can be maintained, thus ensuring their popularity.

    That is, until the property bubble bursts, and inflation starts heading for double figures …

    Like

    • 61
      Gawd Help Us says:

      The inflation rate will be doctored as well to justify their decision on low interest rates.

      Like

      • 80
        Ray Bans-Spex says:

        They kept talking about a 2-3% inflation rate when we all know the true rate is much nearer 10%. It might actually help if they chose the things that people buy daily instead of once every ten years as their markers too – but that would just expose them for the cvunts they all are.

        Like

  16. 49
    Raptor says:

    Further to No 39 above, Carney may have arrived here from Canada, but his family originally hailed from Southern Ireland.

    And we all know what their economy is like, don’t we ?

    Like

  17. 50
    Kipper says:

    CPI 2.9%
    Interest Rate 0.5%
    Savers net loss 2.4% year after year after year.

    Fucking thief Cameron

    Like

  18. 52
    Nick Boles is axing over 500,000 jobs by 2016 says:

    Nick Boles wants to axe all but one or two high streets per town.

    Tories’ property developer donors to convert small shops into housing.

    In Harlow, this would mean the loss of c of c 150 small shops and businesses and c 500 jobs.

    Like

    • 56
      Nick Boles is axing over 500,000 jobs by 2016 says:

      Idiot Boles’ axe would chop:

      c 500 jobs per town

      c 15 jobs per village

      500 lost jobs x 1029 towns in England = 514,5000 redundant staff

      15 (av) lost jobs x 3232 villages in England = 48,480 redundant staff

      So, idiot Boles wants to make 562,980 shop workers redundant.

      Like

      • 58
        Save shop workers, axe boles! says:

        Save our jobs, Mr Cameron, axe that idiot Nick Boles.

        Like

        • 69
          Fact inserter says:

          Riiiight… so empty unoccupied vacant derelict shops employ loads of people, do they?

          Because that’s what the proposal is: to convert unoccupied and unviable retail premises into desperately needed housing. If more people reside in the town centre, that means more local customers for the remain town-centre shops, preserving the jobs there (which might otherwise be lost).

          You do understand that… right?

          Like

          • Save our small shops from mad axeman Boles! says:

            Rubbish, Fatc Inserter:

            “The traditional high street is dead, says minister”

            “A consultation paper due out this week will suggest councils across England should concentrate their efforts on revitalising shopping to just one or two “prime streets”. The rest can be converted.”

            (Telegraph)

            You do understand that, don’t you, Fact Inserter…right?

            Like

          • Save our small shops from mad axeman Boles! says:

            Few small independent shops can afford the extortionate rents, rates, hidden fees and service charges of prime high street locations.

            Boles is effectively encouraging local councils to allow the corporate giant supermarkets and other retailers to take over our high streets and British retailing. Councils are already moving in this direction and driving small businesses out – with the government’s encouragement – via punitive parking restrictions, extortionate parking fees and fines, insurance fees, rental charges for ‘A’ boards, tables chairs and by imposing full repairing leases on buildings they have deliberately allowed to run down.

            As the government told our, would be, enterprising councils, to make money they can “do anything that’s legal”.

            Like

  19. 55
    TV says:

    Tonight on Sky: Channel 534. “Rise of the Drones.” One of the most important and neglected scientific, military and political subjects. PBS America takes “a rare close-up of the unmanned aeroplanes, packed with techie facts” – Radio Times.

    Like

  20. 62
  21. 63

    According to the Americans, a “Carney” is a person who works at carnivals, a dodgy, greasy type who’ll take every penny for his fixed little games.
    How appropriate, “step right folks and get your money printed here, remember to pay the Carney the interest on the worthless paper that magically becomes money” Step right up Folks…

    Like

    • 82
      Fortune Tellers Inc. says:

      You were warned he was a GS stooge months ago. Now we seem to have been proved correct.

      Like

  22. 64
    Savers and pensioners unite! Keep our savings under the mattress!! says:

    Cameron and Osborne are robbing billions from pensioners and savers. Little wonder no one’s spening anything and England PLC is goign bust.

    How dare this government suggest that pensioners are a burden when their interest free loans are keeping England afloat!

    Savers and pensioners, go on free loan strike. Draw out our interest free savings and hide them under the mattress. That will make them pay us proper interest rates.

    Like

  23. 66
    Anonymous says:

    It’s worth reading Detlev Schlichter on the true meaning of “forward guidance”:

    http://detlevschlichter.com/2013/07/forward-guidance-nonsense-central-bankers-have-no-choice/

    Like

  24. 68
    lola says:

    Less Mark Carney. More Fred Karno. Twerp

    Like

  25. 74
    us poor folks says:

    low interest rates destroy economies, of course these bullshit ‘leaders’ will appeal to the notion of home ownership, after all they don’t need to worry about that bullshit, they inherited wealth and property ownership that went with the inheritance of wealth.

    Like


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Great to hear Carswell call for inclusive policies and that UKIP must stand for first and second generation immigrants as much as the English.


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