INCREASE OF BoE INTEREST RATES Update 9 Feb., 2018

Update 8 Feb., 2018 - - Bank of England announced it may have to increase interests rates again - most probably May.

Food prices, consumer goods and petrol prices are increasing alarmingly. Well done Mr Carney and just before Christmas!!!

Update 4 Nov., 2017 -- Mr Carney announced a 0,5 per cent interest rate.

In my opinion it will curb the buying power even more since the prices will increase. Then the £12bn Welfare cut will also have an impact by now.

Furthermore, the Universal Credit will be rolled out in Nov. and Dec., just nicely before Christmas, and the people wont get paid for six weeks. 

So don't blame the falling economy on anything else but on May and her bloodthirsty zombies. It is the sixth richest country and their politics do not make sense apart from filling their pockets more. There will be a mass homelessness, suicide and death from hyperthermia. 

They can't be human!!!!

Update 29 Sept., 2017 --
Mr Carney confirms there will be an interest rate increase as early as November, 2017. Another impact on finance for the families resulting in further homelessness.

Well done Tories. Can you find anything more to drive people into the ground? Sure you can!!! 

Update 20th June, 2017 --
Mark Carney, head of BoE, announced today there will be no increase in interest charges

Bank of England (BoE) have received many calls urging them to increase their interest rates back to 0.5 pc, since the inflation rose higher than expected.

It is expected the Monetary Policy Committee (MPC) will vote for it.

At present it is 0.25 pc.

Data from the Office of National Statistics (ONS) blamed rising prices as a “significant factor” for the slowed down retail sales in May.’

But isn’t it rather a fact of May’s £12bn Welfare cuts started on 1 April, 2017? Such massive cuts, on top of already hard-up people, bound to make them stop spending money on major items.

Signs already show a slow-down on household consumption and gross domestic products, housing market and new car registrations.

What does the Government expect?

The fact is the more you cut people’s money the less they spend which reduces orders to manufactures which reduces jobs.

It is as simple as that, but Cameron, Osborne and May will not accept the inevitable.

The result will be mass-unemployment like under Margaret Thatcher who ended up with five million but she, Cameron and May cover it up with all sort of fiddles to prove to voters a low unemployment figure.

BANK OF ENGLAND RELEASED £150BN TO UK BANKS

The Bank of England gave £150billion to the UK banks to ensure the credit keeps flowing.

The decision was made after two meeting of the Bank's financial policy committee.

Their capital was reduced by £5.7billion which raised their lending capacity for households and businesses £150billion.

The Banks were warned not to use the money for increased bonuses or dividends for shareholders.
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The decision was made on a thread of recession after worst performance of the UK's dominant

services sector for over three years during three months before the referendum.

The Bank promised more help next week.

The pound hit another low exchange rate with the US dollars and FPC's growing fears over funding the UK's deficits with overseas investors.

Governor Mark Carney announced the need to cut rates and introduce further stimulus next summer to counteract the shock of Brexit.

In June, slow down showed in taking on staff such as from hairdresser to  IT, and accountants  before the referendum vote.

NEW PLASTIC BANKNOTES Update 14 Febr., 2017

Update 14 Febr., 2017 --
The Bank of England plans to print a £10 plastic note around June or July, 2017.

UPDATE  Beware the paper £5 note will end its life in May 2017. You will have to spend it by then or hand it into bank.

Thursday, 2 June, 2016 marks the day of new plastic bank notes being issued. To start with a polymer £5 note with Churchill featured on it is the first to be launched.

It is planned that next year a £10 note will follow and by 2020 a £20 note to be issued.

The Bank of England assured us that improved security has been their main concern. It is also cleaner and last longer. It is assumed that the new plastic notes will last two and half longer than its paper counterpart.

Experts belief it would save the bank £100million in printing paper money during a decade.

However, the long standing request to scrap the copper penny and twopence is still being ignored. Canada and Ireland done it years ago. As a matter of fact the penny cost more to be produce than its worth. At the moment there are 11 billion pennies and 6.6 billion twopences in circulation. The good old penny which was once so appreciated plus the twopences nobody think anything of it any more. Banks and retailers have to handled them and it cost them millions of pounds every year.

Source Evening Standard

Since the Bank of England moved into the 21st century with producing polymer bank notes they could make another step to rid the customers, bank and retailers of  being loaded with coppers.

NO MORE BAIL-OUTS FOR BIG BANKS Update 6 Nov.,2016

BANK OF ENGLAND

Update 6 Nov., 2016 -
What about the £150bn given to the banks? Is that not a kind of bail out?

New regulations coming into force that the world’s 30 biggest banks will not getting any more bail-outs.  They are ordered to build up funds to fall back on if there is a crisis again, like in 2008. At that time the amounts reached £850billion to bail out banks from taxpayers’ money.

Royal Bank of Scotland received £45billion. The Lloyds Bank received £20billion

Under the new ruling the banks are forced to keep 16 per cent to 20 per cent as assets for to be used in a crisis. It will cut down investors and shareholders because of the money                                                                                                              being held back.

It is feared that this ruling would result into higher borrowing costs for customer. However, the Financial Stability Board (FSB) of which Mark Carney is chairman and governor of the Bank of England advises the banks to cut wheeler-dealer bonuses and shareholder dividends.  Mark Carney called it totally unfair to use taxpayers’ money to bail-out banks.

He added further: “The banks and their shareholders and their creditor got the benefit when things went well. But when they went wrong the British public and subsequently generations picked up the bill and that’s going to end.”

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The chairman of the Treasury Committee, Andrew Tyries, MP said: “Only when these reforms are tested by experience will it be clear whether they are enough.  What is more, effective resolution will be reliant on national regulators co-operating at s time of crisis.”

British Banking Association, chief executive, Anthony  Browne, said: “The banking industry strongly supports this work, which is a really important step in ending ‘too big to fail’ and ensuring that never again will taxpayers have to step in to bail out banks.”

It sounds a good rule but it should also be forbidden that the amounts for the assets will not be passed on in higher mortgages. It should be taken out of the bonuses and shareholders’ dividends. Bonuses should not be paid out. People get paid for their work therefore what are bonuses for, especially those high bonuses for executives? It is ludicrous.