economonkey

Should we be surprised that the Bank of England took desperate action today, cutting interest rates by an astounding 1.5 percent down to 3 percent, the lowest level in over half a century? OK, so it’s a massive cut and far more than the 1% which even the most dovish of market watchers were calling […]

Remember that 0.5% emergency interest rate cut last week? The one that was supposed to bring a bit of relief to homeowners and maybe get the mortgage market moving again? Remember that? We only ask because it looks like some of the big mortgage lenders certainly don’t remember it.
The Nationwide announced today that it was […]

So, after the US government slashed interest rates to 2% and gave Wall Street a $500 billion taxpayer bailout, only to see all this achieve precisely jack shit as the American and international stock markets paused for a moment’s reflection before getting on with the business of falling off a cliff, guess what the UK […]

Once a month without fail the British press gets its knickers all in a twist over what the Bank of England’s decision on interest rates will be and what it will mean for us all. But is this monthly tweaking of rates by quarter of a percent in either direction really that important any more? […]

On the first Thursday of every month the Bank of England’s Monetary Policy Commission (MPC) has a little get together to decide what to do about interest rates for that month, and a couple of weeks later the notes from that meeting are released to the press. Until recently these notes didn’t generate a lot of […]