Westminster Politics

sun_tzu said:
there was a scheduled statement from the monitory policy at 5pm today i think

dont think they have any flexibility to act without another meeting of the monetary committee - perhaps they will announce an extra meeting in light of the "fiscal event" (cough cough budget) for the end of the week - tht inn its self though will bring in a lot of speculation / uncertainly

gut feel another 0.5% rise minimum is inevitable soon
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I've never seen it and even if it were possible, such an action would tank markets further. It would be a statement that things are out of control.

I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
 
11101 said:
I've never seen it and even if it were possible, such an action would tank markets further. It would be a statement that things are out of control.

I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
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Wow, she's incredibly noble. What a load of shite.
 
11101 said:
I've never seen it and even if it were possible, such an action would tank markets further. It would be a statement that things are out of control.

I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
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If she makes it to Xmas she'll be doing well. Who in their right mind will invest in the UK under this crowd?
 
11101 said:
I've never seen it and even if it were possible, such an action would tank markets further. It would be a statement that things are out of control.

I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
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:lol::lol::lol:
 
11101 said:
I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
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Wow… “sacrifice herself”, blimey. A conservative Jesus for the modern age. ‘Je-Truss’.

A selfless Tory pm who actually cares about the country improving… let’s see how that turns out.
 
Thank God someone finally took care of the issue at the heart of ever voter, we've got to find a way to make bankers richer.
 
11101 said:
I've never seen it and even if it were possible, such an action would tank markets further. It would be a statement that things are out of control.

I'm very slightly ITK here, and this is all going exactly how Truss planned it. She knows she's got 2 years maximum and wants to remove as many hurdles to big business as she can. She believes they are the way to get the economy firing again and is prepared to sacrifice herself to do it.
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:lol:
ITK my arse.
 
Paul the Wolf said:
If she makes it to Xmas she'll be doing well. Who in their right mind will invest in the UK under this crowd?
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Yeah, nobody, but she got all the big FTSE CEOs in a room a couple of weeks before the party vote and gave a whole speech that pretty much amounted to 'tell me what you want and I'll do it'. So I would expect more of the same from her.
 
Kami-Kwasi has got to be my favourite nickname to come out of this shitestorm

This Tory era is reaching the endstate. It is clear they are out of ideas.
 
11101 said:
Yeah, nobody, but she got all the big FTSE CEOs in a room a couple of weeks before the party vote and gave a whole speech that pretty much amounted to 'tell me what you want and I'll do it'. So I would expect more of the same from her.
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and they all shorted the pound and personally made millions. You’re either incredibly naive or incredibly disingenuous
 
Paul the Wolf said:
imggraph.php


Pound's performance against the Ethiopian Birr since Truss has been PM
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Ethiopia had been the go to name in starvation my whole life, time someone took that over. Looking at you Truss.

The balls on these rich people, robbing everyone with a smug look and condescending message.
 
11101 said:
Yeah, nobody, but she got all the big FTSE CEOs in a room a couple of weeks before the party vote and gave a whole speech that pretty much amounted to 'tell me what you want and I'll do it'. So I would expect more of the same from her.
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There's no doubt she actually believes what she's doing is right and that she'll do it. Problem is it won't - back to 1972.
 
Liz is 'f*****' - former minister claims letters of no confidence already being submitted against the PM
The disquiet with Conservative MPs over the mini-budget is growing.

One Tory MP who served as a minister under Boris Johnson has told Sky News: "Liz is f*****."

"She is taking on markets and the Bank of England.

"Her, Kwasi, Philp and Simon [Clarke] are playing A-level economics with people's lives. You cannot have monetary policy and fiscal policy at loggerheads. Something has to give."

The source also claimed moves to trigger a vote of no confidence in Ms Truss's leadership were already underway:

"They are already putting letters in as think she will crash the economy. The tax cuts don’t matter as all noise anyway - mainly reversing back to the status quo this year.

"The issue is government fiscal policy is opposite to Bank of England monetary policy - so they are fighting each other. What Kwasi gives, the Bank takes away."

Another Tory MP told Sky's Rob Powell that Friday's announcement had been a "s***show".

The MP said they weren’t aware of any coordinated plan to vote down government legislation or take other action to show concern, but added they would not rule out something happening given the events of the last few days.
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Drifter said:
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It's crazy people are talking about letters of no confidence already. Surely the Tories aren't going to inflict another interminable leadership campaign on us all.
 
McGrathsipan said:
The shortest reign of a PM (19th Century) Century was 119 days - she has 100 to go.
Will she make it?

She shouldnt !

I would be TERRIFIED if I was living in UK right now. Its absolute chaos.
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Its the conservative conference next week... will she make it past that ?

Another pork markets type speech and even the conservative members might see through the thatcher cos play
 
UK housebuilders’ shares are continuing to be pummelled by fears of sharply rising interest rates, that would hammer the sector.

Taylor Wimpey and Persimmon are both down over 6.7%, followed by Barratt (-5%), Berkeley Group (-4.3%) and property portal Rightmove.

And here’s why – market expectations that interest rates could be hiked back to 6% to prop up the pound.
 
Paul the Wolf said:
UK housebuilders’ shares are continuing to be pummelled by fears of sharply rising interest rates, that would hammer the sector.

Taylor Wimpey and Persimmon are both down over 6.7%, followed by Barratt (-5%), Berkeley Group (-4.3%) and property portal Rightmove.

And here’s why – market expectations that interest rates could be hiked back to 6% to prop up the pound.
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5-6% seems to be market expectation at some point next year or at least was prior to last weeks fiscal event / mini budget / economic suicide note

Housebuilding is a sector I could see the government stepping in to help though given the lack of supply and the energy efficiency of new houses vs old houses

Just think its about a year ago since we had this classic from Johnson

During an interview with Sky News on 5 October 2021, when he was asked “are you worried about inflation?” the Prime Minister said: “People have been worrying about inflation for a very long time. I’m looking at robust economic growth, and by the way those fears have been unfounded.”
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Jippy said:
It's crazy people are talking about letters of no confidence already. Surely the Tories aren't going to inflict another interminable leadership campaign on us all.
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Maybe they'll elect another woman so Theresa May can do another speech about how the tories are so inclusive they've elected 4 women PMs.

Shame the public have no say on who our pm is.

Maybe go one further and elect one of the Queens Corgis as the next pm. Be more competent and they can push their "inclusive" line further.
 
There it is from the BoE- words not action though.

Statement from the Governor of the Bank of England

The Bank is monitoring developments in financial markets very closely in light of the significant repricing of financial assets. In recent weeks, the Government has made a number of important announcements. The Government’s Energy Price Guarantee will reduce the near-term peak in inflation. Last Friday the Government announced its Growth Plan, on which the Chancellor has provided further detail in his statement today.

I welcome the Government’s commitment to sustainable economic growth, and to the role of the Office for Budget Responsibility in its assessment of prospects for the economy and public finances. The role of monetary policy is to ensure that demand does not get ahead of supply in a way that leads to more inflation over the medium term.

As the MPC has made clear, it will make a full assessment at its next scheduled meeting of the impact on demand and inflation from the Government’s announcements, and the fall in sterling, and act accordingly. The MPC will not hesitate to change interest rates by as much as needed to return inflation to the 2% target sustainably in the medium term, in line with its remit.
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