As the UK awaits the Bank of England’s decision on interest rates speculation is rife about a potential cut.
With predictions of rates being dropped to 0.25% or possibly even zero Twitter has been awash with comments from the mortgage industry and beyond.
Here’s what some had to say…
Should the BoE should cut rates today? Perhaps more importantly, after so many dire warnings Carney will look pretty silly if they don’t.
— Rob Gill (@robdgill) August 4, 2016
Quite a few people on my Twitter feed think Base Rate will hold today. We have seen before that credibility is not that important to Carney
— Andrew Montlake (@montysblog) August 4, 2016
The average mortgage will reduce by ” £20 per month ” if rates are cut 0.25%. Anyone seriously think that will fix anything?
— London Money (@LondonMoneyFS) August 4, 2016
Even if they cut base rate it’s no where near enough. It’s so irrelevant in the life of the average person- what we need is tax changes
— Ben Ramsay (@BenwRamsay) August 4, 2016
will a cut to interest rates do anything? I doubt it.
Borrower apathy to longer term planning won’t change.
— Stuart Gregory (@Mortgage_Stu) August 3, 2016
Although #BoE rate cut exp, combination & uncertainty over additional tools is less assured… Whatever the decision volatility guaranteed
— Anthony Cheung (@AWMCheung) August 4, 2016
— Geoff Kates (@GeoffKates) August 4, 2016
— Tomas Hirst (@tomashirstecon) June 30, 2016