revtothelimit - motorbike forum

Talk in the last few days of potential for negative interest rates.

Any thoughts on what you might do to escape being charged by the bank for the privilege of them having your money?

Take it out and stick it under the bed/in your safe/buy gold.

Talk by whom, anyone credible, or just a internet pundit?

Horse wrote: Sat Sep 19, 2020 12:51 pm Talk in the last few days of potential for negative interest rates.

Any thoughts on what you might do to escape being charged by the bank for the privilege of them having your money?

Money? Errrrm

cheb wrote: Sat Sep 19, 2020 1:57 pm Talk by whom, anyone credible, or just a internet pundit?

It’s the word on the street.

weeksy wrote: Sat Sep 19, 2020 2:01 pm

Horse wrote: Sat Sep 19, 2020 12:51 pm Talk in the last few days of potential for negative interest rates.

Any thoughts on what you might do to escape being charged by the bank for the privilege of them having your money?

Money? Errrrm

I think you invest in a different way

cheb wrote: Sat Sep 19, 2020 1:57 pm Talk by whom, anyone credible, or just a internet pundit?

You decide: Bank of England

https://www.thisismoney.co.uk/money/new ... rates.html

Harry wrote: Sat Sep 19, 2020 3:00 pm art.

That's an interesting one. How / what would you choose?

Horse wrote: Sat Sep 19, 2020 12:51 pm
Any thoughts on what you might do to escape being charged by the bank for the privilege of them having your money?

It won’t go negative for personal accounts.

Horse wrote: Sat Sep 19, 2020 2:29 pm
You decide: Bank of England

Ok it’s the word on Threadneedle Street.

Meh, just an old lady gossiping.

Spend the good clean fuck out of it.

Skub wrote: Sat Sep 19, 2020 5:46 pm Spend the good clean fuck out of it.

A short term investment in low-priced brandy looks like the hot ticket!

Borrow loads and get paid to do it.

I just this week agreed to lend out a wedge at 6% pa

I think I did good !

Jody wrote: Sat Sep 19, 2020 6:35 pm I just this week agreed to lend out a wedge at 6% pa

I think I did good !

If you get it back....

Jody is doing P2P I think, he's talked about it before.

So you're not lending to any one person at 6%, but the people you're lending too are those who couldn't get a bank loan at that rate.

A sector that’s not really been tested in a severe economic situation, like the one that’s likely in its way.

Not overly sure about p2p lending myself, but have read some horror stories about it.

Dunno if if drop much into it myself but good luck to anyone that does.

Banks have been put on notice that Base may go negative in Q4. For individual banking customers there won't be negative rates on savings, mortgages, etc. Wholesale customers will be impacted, although euro deposits have been negative for some years in markets.
Big system changes for most banks, not simply a case if sticking a minus sign in front of a number.
Rates going negative seems a bit like doing more of the same thing that hasn't really worked before. Very blunt instrument.

Wreckless Rat wrote: Sun Sep 20, 2020 7:21 am A sector that’s not really been tested in a severe economic situation, like the one that’s likely in its way.

Not overly sure about p2p lending myself, but have read some horror stories about it.

Dunno if if drop much into it myself but good luck to anyone that does.

P2P sounds like lending money to people who have already scared the banks off.