Charles Mackay

Registered with Property118.com
Tuesday 28th February 2017


Latest Comments

Total Number of Property118 Comments: 21

Charles Mackay

12:46 PM, 20th June 2017
About A year ago

5 to 3 the Doves have it - MPC holds interest rate at 0.25%

Taken directly from Mark Carney's statement this morning:

"Whatever happens, monetary policy will be set to return inflation sustainably to target while supporting as best it can the necessary adjustments in the economy"

Clearly telling us that, although right now the time is not right for rises, if inflation continues then interest rates WILL be used to attempt to curb inflation.

Plain as day in black and white.... Read More

Charles Mackay

11:06 AM, 18th June 2017
About A year ago

5 to 3 the Doves have it - MPC holds interest rate at 0.25%

Reply to the comment left by "Monty Bodkin" at "18/06/2017 - 10:49":

I was simply pointing out to the previous poster that his understanding is completely wrong and that interests rates are a directl control on currency exchange rates, and that at some point they would need to rise if exchange rates and inflation get too far out of kilter

I did not even mention the word crash, nor did I say that a rise in interest rates would cause a crash.

That is a conclusion that you draw all on your own....... Read More

Charles Mackay

8:34 AM, 18th June 2017
About A year ago

5 to 3 the Doves have it - MPC holds interest rate at 0.25%

Reply to the comment left by "Dylan Morris" at "17/06/2017 - 09:16":

Dylan, sorry but you are talking nonsense. You do understand that one of the biggest controls on exchange rates between currencies are the interest rates paid by the respective central banks controlling those currencies don't you???

Higher interest rates help increase demand for a currency. This makes it stronger against other currencies and increases its exchange rate against those currencies. So, actually higher interest rates are EXACTLY what is needed to reduce the exchange rate related inflation we are seeing. The reason the BoE has held off increasing them is that there is a lot of debt in the U.K., but they can only hold off for so long. Otherwise we start to see uncontrollable inflation. The other big problem is that we are not seeing any real wage growth, so this inflation means people have less and less money to spare as cost of energy, food, fuel rises. This is not the kind of inflation that was good for property in the 80's where you could take out a mortgage and in say 10 years the debt had been inflated away due to wage rises.

Take a look at any historic relationship between UK & USA interest rates and you will see that going back from the early 1900's the two have tracked each other closely (almost exactly overlaying each other, and certainly following the same trends in direction). We will have to start raising rates sooner or later, we simply have no choice.... Read More

Charles Mackay

9:47 AM, 20th May 2017
About 2 years ago

Southwark insist I leave a room unoccupied so going to Tribunal - Help!

Would you like to live in a home like this Ross? I'm going to guess no. Then why are you so deluded as to think your tenants wouldn't want a front room?... Read More