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WORLD WIDE RATE CUTS

Chirpy Red
Chirpy Red Posts: 7,587
edited October 2008 in Not Sports Related
US FED, ECB, SNB, BANK OF CANADA, BANK OF ENGLAND ALL CUT INTEREST RATES!

Comments

  • Ledge
    Ledge Posts: 7,179
    Bloody right as well,

    Me and the missus want to convert garage and put conservatory up so wait for the interest rates to go down befor ewe get in there.
  • razil
    razil Posts: 15,041
    erm I wouldn't do any borrowing for the next year or so, but up to you of course.

    :)
  • Ledge
    Ledge Posts: 7,179
    oh no we are not - but these interest rates will have to go down again s o we'll bide time.
  • razil
    razil Posts: 15,041
    I can't see fixed rates coming down for some time regardless of the central bank rates lowering, this is the cruxt of the problem as I understand it, fixed rates are determined by interbank lending which is a symptom of the current crisis, lack of confidence is meaning banks are less willing to lend to each other and making the rate very high - but I am no expert.

    :)

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