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Well there we go - interest rates down and more to come

8th October 2008 | back to article listings BACK    print this article PRINT

Almost exactly as predicted a few days ago ( investors.assetz.co.uk/blog/?postid=102 ) - central banks mark down base rates in a concerted move before the next official meetings. Only difference was ECB down 0.5% rather than 0.25%.

Tricky thing, projections, but easier in these interesting times as fear and greed are easier to read.

The only way for the property market is up once this filters through to cheaper rates and easier mortgages. The changes today, with up to £4-500bn of support for the markets in interbank lending (and hence mortgages) plus Tier 1 bank capitalisation increases and the beginning of several deep cuts to base rates will sort both the mortgage markets and the economy over time - with no chance of inflation fighting back for quite a while to come.

The stock market however has a different cycle and is still a day or so from capitulation and a final low.

Well done to all involved for finally taking the required action but a pity it took so long.

Nice little story that many people missed today with Iceland reneging on the guaranteed £16k savings to British savers in IceSave yesterday, the government stepped in to guarantee all losses but in retribution the Treasury put one of their main banks here in the UK into receivership just to get even ! Not that they would admit that so clearly of course ! ( business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4908063.ece ) Interesting times we live in.

See the recent full blog here - investors.assetz.co.uk/blog/

This news story has come from the property investment blog by Stuart Law, CEO Assetz plc.

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