Interest Rates

[Wales-Bales]

The Bank of England should be stopped in its tracks, not left to ride roughshod over the public

The reality that the Bank of England and the Treasury are, in combination, seeking to create the biggest recession in UK living memory is seeping through into the mainstream media.

https://www.taxresearch.org.uk/Blog/2022/11/03/the-bank-of-england-should-be-stopped-in-its-tracks-not-left-to-ride-roughshod-over-the-public/

The UK economy is about to be thrown into a black hole – by its own government

It fits the definition of madness to propose more austerity. But that, along with higher interest rates, is what’s coming

https://www.theguardian.com/commentisfree/2022/nov/02/the-uk-economy-is-about-to-be-thrown-into-a-black-hole-by-its-own-government

[Wales-Bales]

Re: Interest Rates

The US Fed is crushing the hopes of billions of people in developing countries with its callous interest rate policy

The US Fed raised its guidance interest rates yesterday for the fourth time in four months. As on those previous occasions, the increase was by 0.75%.

https://www.taxresearch.org.uk/Blog/2022/11/03/the-us-fed-is-crushing-the-hopes-of-billions-of-people-in-developing-countries-with-its-callous-interest-rate-policy/

[North Cardiff Blue]

Re: Interest Rates

The Bank of England should be stopped in its tracks, not left to ride roughshod over the public

The reality that the Bank of England and the Treasury are, in combination, seeking to create the biggest recession in UK living memory is seeping through into the mainstream media.

https://www.taxresearch.org.uk/Blog/2022/11/03/the-bank-of-england-should-be-stopped-in-its-tracks-not-left-to-ride-roughshod-over-the-public/

The UK economy is about to be thrown into a black hole – by its own government

It fits the definition of madness to propose more austerity. But that, along with higher interest rates, is what’s coming

https://www.theguardian.com/commenti...own-government

3% is low, the days of borrowing free money are over, it's always the first mechanism to try and reduce inflation, which is more of a problem.

[Doucas]

Re: Interest Rates

3% is low, the days of borrowing free money are over, it's always the first mechanism to try and reduce inflation, which is more of a problem.

3% is low back when houses cost 3x your salary now it's about 8 or 9x your salary. Source - https://www.schroders.com/en-gb/uk/i...ity-in-the-uk/

[Organ Morgan.]

Re: Interest Rates

Interest rate rises to 3% - the biggest hike in decades - https://www.bbc.co.uk/news/live/uk-63431894

Bank of England expects UK to fall into longest ever recession

- The Bank of England has warned the UK will see its longest recession since records began, as it raised interest rates by the most in 33 years.

In its outlook for the UK economy, it said the country would face a "very challenging" two-year slump. -

More: https://www.bbc.co.uk/news/business-63471725

[TWGL1]

Re: Interest Rates

Interest rate rises to 3% - the biggest hike in decades - https://www.bbc.co.uk/news/live/uk-63431894

Bank of England expects UK to fall into longest ever recession

- The Bank of England has warned the UK will see its longest recession since records began, as it raised interest rates by the most in 33 years.

In its outlook for the UK economy, it said the country would face a "very challenging" two-year slump. -

More: https://www.bbc.co.uk/news/business-63471725

Anybody not expect this to happen after the billions wasted over the last few years ?

[North Cardiff Blue]

Re: Interest Rates

Anybody not expect this to happen after the billions wasted over the last few years ?

Exactly people were laughing on furlough enjoying a few months of work in the sun in April 2020.

Lot's retired early, many are heading back to work again now, it's going to be pretty bleak for a year or two.

[Wales-Bales]

Re: Interest Rates

3% is low back when houses cost 3x your salary now it's about 8 or 9x your salary. Source - https://www.schroders.com/en-gb/uk/i...ity-in-the-uk/

I don't think it is going to stop at 3%.

[North Cardiff Blue]

Re: Interest Rates

3% is low back when houses cost 3x your salary now it's about 8 or 9x your salary. Source - https://www.schroders.com/en-gb/uk/i...ity-in-the-uk/

In fairness that's true, it is going to get tough for youngsters from now on. Normally increasing interest rates would cause uncertainty and a house price crash, but due to the shortage, it may just be a small fall or levelling out for a while. To add to the problem there are thousands of migrants in hotels, they need housing too, so the shortage of housing seems unlikely to reduce any time soon?

[North Cardiff Blue]

Re: Interest Rates

I don't think it is going to stop at 3%.

I think they will get to about 4%?

[Wales-Bales]

Re: Interest Rates

I think they will get to about 4%?

I've no idea, but we are following the US and they are blaming it on demand side inflation, while others are saying it is a supply side issue driven by a big change in energy policy (Agenda 30/50). If the latter is correct, then we are still living in the good times.

[tforturton]

Re: Interest Rates

To be fair, if you have any savings, it's about time you got a decent return on them.

[Wales-Bales]

Re: Interest Rates

To be fair, if you have any savings, it's about time you got a decent return on them.

Offset by ever increasing prices for goods and services.

[Organ Morgan.]

Re: Interest Rates

To be fair, if you have any savings, it's about time you got a decent return on them.

With CPI inflation at 10% and RPI inflation at 12% then I would describe a 3% return on savings as an improvement but miles away from decent.

What will the unemployment rate be like two years hence following a recession of the length the BoE is forecasting?

The way food prices keep rising I'll be unsurprised should supermarket customers be unable to collect items themselves off of shelves in the near future. Home delivery only through internet ordering would be right up the WEF's strasse. Giant grub distribution centres instead of shops would also have the likes of Tesco, etc, purring with delight.

[cyril evans awaydays]

Re: Interest Rates

With CPI inflation at 10% and RPI inflation at 12% then I would describe a 3% return on savings as an improvement but miles away from decent.

What will the unemployment rate be like two years hence following a recession of the length the BoE is forecasting?

The way food prices keep rising I'll be unsurprised should supermarket customers be unable to collect items themselves off of shelves in the near future. Home delivery only through internet ordering would be right up the WEF's strasse. Giant grub distribution centres instead of shops would also have the likes of Tesco, etc, purring with delight.

I thought you said previously that you got your provisions online from Asda. Are you an early adopter?