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  • Bank of England measures to respond to the economic shock from Covid-19

    From bankofengland.co.uk

    The front line of combatting the challenges of Covid-19 comprises the extraordinary efforts of NHS health professionals, carers, and volunteers across the country, as well as the exceptional support by the FCO to UK citizens abroad. The Bank of England’s role is to help UK businesses and households manage through an economic shock that could prove sharp and large, but should be temporary. The Bank’s three policy committees are today announcing a comprehensive and timely package of measures to help UK businesses and households bridge across the economic disruption that is likely to be associated with Covid-19. ... (full story)

What the...
Quoting Hokage-Sama
What the...
0.25% Rate cut BS
On Budget day,,,
ooofffff back to work focus on GolD-17--
TuriBinda
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Gold will too again on buying ??
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GBPUSD going bearish. Just want to confirm if this is a false breakout or long term.
Post the news to the calendar AFTER the event.....lol...FF.....jerks!!
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting realjumper
Post the news to the calendar AFTER the event.....lol...FF.....jerks!!
The MPC cut the official bank rate by 0.50% to a target rate of 0.25% at an unscheduled emergency meeting. For historical accuracy, this event was added to the calendar after its release time;
Quoting Dr.Zain
this event was added to the calendar after its release time;
That's what I just said.
Doing what you like is Freedom. Liking what you do is Happiness.
The way this was done was dirty
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Quoting realjumper
Post the news to the calendar AFTER the event.....lol...FF.....jerks!!
It was an emergency cut smart a.. ,measure for actual situation with the virus. If you dont know that then maybe is time to get a job or find something else to do out of trading.
Fool of losers around,no wonder...
Quoting Dr.Zain
{quote} The MPC cut the official bank rate by 0.50% to a target rate of 0.25% at an unscheduled emergency meeting. For historical accuracy, this event was added to the calendar after its release time;
Its not a historical accuracy, its Criminal Historical Accuracy
another ridiculous cut... but at least we know what was discussed at the recent bank/CB/G7/etc meeting

As much as I can understand the need for stimulus package because of Covid19 to support small business, I don't see the point of those rate cuts for the economy (yeah yeah, make the consumer confident etc... BS!)
Wow covid-19 used as an excuse to said British economy will be shxt. Most of us with common sense knew this all along since 2016 but just needed something external to trigger it.
Told you guys all along this is the flu and they are scamming us to rip off the consumer and make our money worthless
Not much if they kept it higher than last week low.
Double the account
1) Nothing like a health scare and a bit of argy-bargy in the oil market to promote unanimity amonge BOE Board.

2) One is inclined to wonder just how much (or little) stimulus can come from reducing rates from Very Low Indeed to even lower. If this is a part of a co-ordinated approach that includes fiscal measures then yeah maybe (I miss the Ken and Eddie show in the days when policy was co-oprdinated). Reducing rates doesn't really get money onto the 'street'. At these levels it doesn't even really help the banking system much.

just some morning reflections on the activities so far...
still watching ECB...
TuriBinda
Quoting Dr.Zain
{quote} The MPC cut the official bank rate by 0.50% to a target rate of 0.25% at an unscheduled emergency meeting. For historical accuracy, this event was added to the calendar after its release time;
Because the vote was done unanimously at an emergency meeting. This was unscheduled event and the reason is the coronavirus.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
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Next. Ecb
I spoke to my GP and he said Coronavirus is struggling when the interest rates are negative... Go Carney go!
Quoting Sahir12
still watching ECB...
They are next
Quoting NotAtrader
{quote} Because the vote was done unanimously at an emergency meeting. This was unscheduled event and the reason is the coronavirus.
At 7am? You telling me they couldn't wait until 9.30 as per usual GBP time?
News?

Trash Paper...dollars ....
Not news
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting ultax
{quote} At 7am? You telling me they couldn't wait until 9.30 as per usual GBP time?
I am not telling anything. I just refer to news.

https://www.bloomberg.com/news/artic...premium-europe

Man it’s funny. You are from the U. K. I am not. How comes you didn’t know that?
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
{quote} I am not telling anything. I just refer to news. https://www.bloomberg.com/news/artic...premium-europe Man it’s funny. You are from the U. K. I am not. How comes you didn’t know that?
It's a figure of speech. *whoosh*
Guys this is all done by Design.... don't be fooled.... there are things happening behind closed doors that we are not aware off...and ...no.. it is not the Virus, this was all done when the nations of 20 met...if I say ....Underhanded....that would be Mild....this is a coordinated effort by all...one thing i think we can be sure of .. that this is not in our ...Favor...Be wary People...
Now ecn and snb go into an even deeper territory and the insanity will be complete.
Everyone can see the chart, but only a few can actually read it.
Apparently BOED is acting coy about too much demand-vs.-supply for GBs now-a-days and decided to join the government yield 0% club.
Count Of Antwerp
Ooooops !, not sure anyone is believing the spin about Covid, the B of E's policies since 2007 have been

1/ Destroy the value of the pound down 38% against the USD

2/ Create a Canadian style property ponzi scheme (Every dumb suckers fallen for this one)

3/ Get everyone to buy a Range Rover or 2 on finance (98% of all new cars in the UK are heavily on finance)

4/ Make work "pay to play" by selling worthless degree's from fictitious Universities promising jobs that don't exist

5/ Enable the slamming of the price of real assets "Gold" and "Silver" by telling fat porkers about the amount of metals traded out of UK enabling the LBMA and Comex to naked short sell at will creating a fantasy economy

Tulip mania, The Mississipi Bubble, The South Sea Bubble, The Wall Street Crash, The Crash of '74 and '87, and 2000 and 2008 all caused by low Iq'd morons in Central banks proping up really dumb Keynsian rubbish idea's by flooding the market with fictitious money.

As Lord Liverpool said in 1824 "Fictitious money creating fictitious values" what could possibly go wrong ...

Where are you going to take rates now Mr. Carney (oooops I forgot you are leaving on the 12th to wreak havok with you're dimb think somewhere else, on behalf of the British populace "F off and dont bother coming back, you free loading half wit"
What the f****k! With GBPUSD
Most of the usual suspects spouting the usual conspiracy nonsense on here.

Ironically a lot of the older ones have the most to lose from their *denials* of Covid19
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It so strange that no one knew about the BOE meeting yesterday. I don't think they decided to cut this morning.
I believe it's a dangerous act from countries' central banks. all interest rates are almost near to zero or zero or negative. well what will they do if they face another shock?. in this case, they have no more instrument to react the new shock and till then the central banks' hands are empty. hence, i think they are overreacting this damn virus.
Its mean recission come closer to UK.
Brexit need big money and Coronavirus too...
Why GBP going up??? Any reason. Anual budget will be big move for pound,,, up or down?
What do you think guys
Quoting b_hand
Its mean recission come closer to UK. Brexit need big money and Coronavirus too...
Very agree
Quoting sadeghi
I believe it's a dangerous act from countries' central banks. all interest rates are almost near to zero or zero or negative. well what will they do if they face another shock?. in this case, they have no more instrument to react the new shock and till then the central banks' hands are empty. hence, i think they are overreacting this damn virus.
They gonna print the money again
Quoting elanjaelani
{quote} They gonna print the money again
Yeah exactly, for example, how can Americans cover their deficit? if we assume the oil price remains at this level, given being low real interest rate of the bonds and being high volume of government's debt. add these cases cutting tax, so how will they cover their deficit? the answer is simple: print more and more money.
Lowering the bank base rate will do more for the banks than it will the peple and small businesses. I wouldn't assume the banks will pass this onto mortgage lenders and small businesses just as fuel pump prices are not really coming down given the huge drop in the price of oil. The fat get fatter and their margins get bigger.
Quoting ultax
{quote} At 7am? You telling me they couldn't wait until 9.30 as per usual GBP time?
Remember the crooks at that cr.p Swiss dirty bank in 2015????

They just like surprises man
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting swd
...just as fuel pump prices are not really coming down given the huge drop in the price of oil...
That is some serious IRONY!

They won't do consumers any favors. It's not really about the cost of oil but the thirst of greed.
You don't know because you don't ask.
Quoting here2there
{quote} That is some serious IRONY! They won't do consumers any favors. It's not really about the cost of oil but the thirst of greed.
Yeag, I know
Quoting UnBearybull
Most of the usual suspects spouting the usual conspiracy nonsense on here. Ironically a lot of the older ones have the most to lose from their *denials* of Covid19
Surely this is the Milennials 'dream scenario'. Have an epidemic that only kills off lots of old people - takes care of one of the most troubling economic problems of our time - a growing elderly population? Leaves the way much clearer for the younger generations with much less financial burden from previous generation?

Awwwww - C-mon!!!!!! Am I really the only person who thought this? really? LOL
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