ECB drop just 0.5%

[tricky69]

cowards....

[esselte]

What's the rate now..

[Motorrad]

Prudent cowards.

[tricky69]

would like to have been there for that meeting...

BOE: We are thinking a 1% drop... what do you think ?
ECB: No way dude, have to be more aggressive !!
BOE: don't know... bit scray all this
ECB: Get your balls out and drop it 1.5%
BOE: i am not sure....
ECB: Look just do it... if you do it we will drop it 1.5% as well
BOE: ok i will do that if you promise to as well...
ECB: Sure you can trust me...

HAHAAHAHAHAH

[playerone]

Im glad its not top trumps.

"my cut is bigger than yours!"

[bluevelvet]

On the back of the BofE cut, I am a little surprised they held to expectations....on the back of the last concertive cuts by the major central banks......ECB press conference at 1.30 and reference to inflation, could really make it look like Bofe have played their joker here!

[Motorrad]

.....another way it might be looked at is that the UK economic outlook is so weak that it's central bank was forced into desperate measures and that the eurozone is resolutely holding it's course because it's in a much better state to weather the storm.

[Horse_Apple]

Motorrad said:

.....another way it might be looked at is that the UK economic outlook is so weak that it's central bank was forced into desperate measures and that the eurozone is resolutely holding it's course because it's in a much better state to weather the storm.

Or the fact that at 4.5% our rate was far too high in contrast to the US and EU. Thus, this is as much about re-basing as it is about trying to slow household expenditure and maintain spending.

The additional 50bp reflects the fact that we should have been at 4% weeks ago but we were more concerned then about inflation controls.

[emicen]

Horse_Apple said:

Motorrad said:

.....another way it might be looked at is that the UK economic outlook is so weak that it's central bank was forced into desperate measures and that the eurozone is resolutely holding it's course because it's in a much better state to weather the storm.

Or the fact that at 4.5% our rate was far too high in contrast to the US and EU. Thus, this is as much about re-basing as it is about trying to slow household expenditure and maintain spending.

The additional 50bp reflects the fact that we should have been at 4% weeks ago but we were more concerned then about inflation controls.

Exactly, I believe ECB were at 3.75 so have dropped to 3.25%. Wow, .25% spread, truely we are done for...

Not forgetting the EU were gleefully predicting we'd get the recession worse than them but their economy has actually faltered just as quickly as ours did.

[rude-boy]

emicen said:

Not forgetting the EU were gleefully predicting we'd get the recession worse than them but their economy has actually faltered just as quickly as ours did.

It's been interesting how little we have heard about things over there though. You could almost be forgiven for thinking that this here credit crunch thingy is an Anglo/American problem, not one which affects almost the whole of 'The West' and in the next 12 months will start to hit the rest of the World properly (they are just starting to get itchy...)

[emicen]

rude-boy said:

emicen said:

Not forgetting the EU were gleefully predicting we'd get the recession worse than them but their economy has actually faltered just as quickly as ours did.

It's been interesting how little we have heard about things over there though. You could almost be forgiven for thinking that this here credit crunch thingy is an Anglo/American problem, not one which affects almost the whole of 'The West' and in the next 12 months will start to hit the rest of the World properly (they are just starting to get itchy...)

I'd say it's been more typically European.

Do we honestly believe only the UK had mad cow disease? No, we were the only ones daft enough to fully portray the extent of the problem.

The rest of Europe will be doing the same now as they did then, trying their best to keep the problem out the media and avoid creating a self fulfilling prophecy.

[Motorrad]

Horse_Apple said:

The additional 50bp reflects the fact that we should have been at 4% weeks ago but we were more concerned then about inflation controls.

Desperate measures.

Edited by Motorrad on Thursday 6th November 13:23

[rude-boy]

emicen said:

rude-boy said:

emicen said:

Not forgetting the EU were gleefully predicting we'd get the recession worse than them but their economy has actually faltered just as quickly as ours did.

It's been interesting how little we have heard about things over there though. You could almost be forgiven for thinking that this here credit crunch thingy is an Anglo/American problem, not one which affects almost the whole of 'The West' and in the next 12 months will start to hit the rest of the World properly (they are just starting to get itchy...)

I'd say it's been more typically European.

Do we honestly believe only the UK had mad cow disease? No, we were the only ones daft enough to fully portray the extent of the problem.

The rest of Europe will be doing the same now as they did then, trying their best to keep the problem out the media and avoid creating a self fulfilling prophecy.

They are as good at keeping their dirty laundry private as we are at telling the Media all about it and then helping them sensationalise(sp) it...

[Horse_Apple]

rude-boy said:

emicen said:

Not forgetting the EU were gleefully predicting we'd get the recession worse than them but their economy has actually faltered just as quickly as ours did.

It's been interesting how little we have heard about things over there though. You could almost be forgiven for thinking that this here credit crunch thingy is an Anglo/American problem, not one which affects almost the whole of 'The West' and in the next 12 months will start to hit the rest of the World properly (they are just starting to get itchy...)

I suspect that it literally has a lot to do with the rest of the world simply not being as interested in mainland Europe in contrast to the US. Add our obvious bias to report on ouselves ahead of others and it's relatively easy to begin to see why the EU gets overlooked.

[Puggit]

As a Eurozone mortgage holder - any drop is a good drop