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  1. #1
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    Digby Fantona's Avatar
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    We Have Lift Off !

    US raises benchmark rate by 0.25% - BBC News

    US interest rates have just been raised and there will be fireworks in world exchange markets very soon.

    The US Federal Reserve has raised its benchmark interest rate by 0.25% for only the third time in a decade.
    The central bank voted to raise its key rate target to a range of 0.75% to 1%.
    The Fed had been expected to raise rates after a robust February jobs report, solid pay gains, rising inflation and a dip in the unemployment rate to 4.7%.
    Federal Reserve policymakers are expected to increase rates a total of three times this year.
    The decision was approved with a 9-1 vote. Neel Kashkari, the head of the Fed's regional bank in Minneapolis, cast the dissenting vote.
    Wall Street stock indexes jumped after the announcement, with the Dow Jones Industrial Average up 92 points at 20,929 in afternoon trading.
    The Fed aims to keep the cost of lending between banks within a specified band, which it does by buying or selling financial assets.
    It is raising that band by a quarter of a percent.

  2. #2
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    UrbanMan's Avatar
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    Quote Originally Posted by Digby Fantona
    Federal Reserve policymakers are expected to increase rates a total of three times this year.
    Sounds about right.

  3. #3
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    harrybarracuda's Avatar
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    All expected. Does nothing more than pressure borrowers, and there are plenty of those.

  4. #4
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    Quote Originally Posted by harrybarracuda View Post
    All expected. Does nothing more than pressure borrowers, and there are plenty of those.
    Need to do same in the UK, pick up some cheap repossessions and I can become a slum landlord. Always gains to be made from others misery.

  5. #5
    I am in Jail
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    Fake money....petro dollar economies will falter as soon as the truth be known....

    Better get your legs in shape and ride the bike, babycakes!


  6. #6
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    Quote Originally Posted by buriramboy View Post
    Quote Originally Posted by harrybarracuda View Post
    All expected. Does nothing more than pressure borrowers, and there are plenty of those.
    Need to do same in the UK, pick up some cheap repossessions and I can become a slum landlord. Always gains to be made from others misery.
    But that would require you finding some cash, giving up your benefits and moving out of your council flat.

  7. #7
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    Digby Fantona's Avatar
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    Quote Originally Posted by harrybarracuda View Post
    All expected. Does nothing more than pressure borrowers, and there are plenty of those.

    It does far more than that. It was anticipated and there will no immediate repercussions but the interest rate has actually been raised and it would appear that there is only one direction in which the rate is heading. I repeat, the rate has been increased and it's not just talk anymore.The blue touch paper has been lit.

  8. #8
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    Quote Originally Posted by harrybarracuda View Post
    Quote Originally Posted by buriramboy View Post
    Quote Originally Posted by harrybarracuda View Post
    All expected. Does nothing more than pressure borrowers, and there are plenty of those.
    Need to do same in the UK, pick up some cheap repossessions and I can become a slum landlord. Always gains to be made from others misery.
    But that would require you finding some cash, giving up your benefits and moving out of your council flat.
    If you mean moving out my mortgage free 4 bed detached house no plans on doing that till my daughter finishes her education (she's 13), finding cash ain't a problem just means selling some shares, I have seriously thought about buying a couple of flats here can pick up 2 bed flats just outside the town center for 70-80k which will rent out for 500-600 a month but having considered it just don't want or need the hassle. But If SeekingAss Armageddon ever arrives and some stupid bargains materialise I may change my mind.

  9. #9
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  10. #10
    Thailand Expat VocalNeal's Avatar
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    Quote Originally Posted by Digby Fantona
    The blue touch paper has been lit.
    Time to retire?


  11. #11
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    Part and parcel of the base illusion.

    Most will follow catatonically.

  12. #12
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    When the badger sleeps the banks close early.

  13. #13
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    A rolling stone is worth two in the bush.

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