BOE raise Interest Rates

[Pak_Doo_Ik]

Up to .75 now.

I dread to think what the rate of inflation would be if they didn't raise interest rates :unsure:

 

[Same_as_before]

Up to .75 now.

I dread to think what the rate of inflation would be if they didn't raise rates :unsure:

They are guessing 8% by the end of the year. Thus is the government of financial security.

 

[NorthumberlandBoro]

Up to .75 now.

I dread to think what the rate of inflation would be if they didn't raise interest rates :unsure:

It's expected to hit 8% later this year.

 

[NorthumberlandBoro]

Great minds sometimes think alike.

 

[Pak_Doo_Ik]

It's expected to hit 8% later this year.

Later this month is a better estimate.

 

[Colgates_shaving_foam]

Don't be asking for a pay rise though.

We're all in this together.....

 

[Randy]

Don't be asking for a pay rise though.

We're all in this together.....

Too late. Already have. ,

 

[MolteniArcore]

Think the .25 rise is a waste of time TBH. Raising interest rates is meant to cool the economy but the economy isn't driving inflation. Surely in light of this it's only making the problem worse for people.

I suspect it's just them wanting to be seen to be doing something.

 

[Jonny Ingbar]

2009 "Can I have a payrise please?"

"No, we must repay the national debt and inflation is very low"

2022 "Can i have a payrise please?"

"No, we must repay the national debt and its unrealistic to expect a payrise in line with inflation "

 

[ForssAwakens]

Think the .25 rise is a waste of time TBH. Raising interest rates is meant to cool the economy but the economy isn't driving inflation. Surely in light of this it's only making the problem worse for people.

I suspect it's just them wanting to be seen to be doing something.

Agreed

There only thinking can be to strengthen the pound so that some imports become cheaper and therefore help inflation slightly

When factors such as covid, brexit and Ukraine are at play then rising the rate isn’t going to do the job you want to

 

[Nano]

Think the .25 rise is a waste of time TBH. Raising interest rates is meant to cool the economy but the economy isn't driving inflation. Surely in light of this it's only making the problem worse for people.

I suspect it's just them wanting to be seen to be doing something.

Yes. I agree. I don't understand the rationale. Interest rate rises reduce demand but inflation isn't rising because of demand. It is rising because of global prices increasing. This is just going to increase costs for those that are affected.

 

[MolteniArcore]

Sunak telling the BoE that he's watching them won't help either - they will be very keen to try to act.

 

[Pak_Doo_Ik]

Yes. I agree. I don't understand the rationale. Interest rate rises reduce demand but inflation isn't rising because of demand. It is rising because of global prices increasing. This is just going to increase costs for those that are affected.

Exactly this, most people are already struggling and their spending is not the driving force behind inflation. All these small increment increases do is add to the ever increasing cost of living.

 

[Norman_Conquest]

Although I don't think Brexit has helped, other EU countries are struggling. I know there were talks of strikes in France over inflation rates.

Business - French unions lead protests, strikes over cost of living

Thousands of French workers have protested across the country, calling for better wages to deal with the rising cost of living. Households' purchasing power is set to be a major issue in the upcoming…

www.france24.com

 

[WoodallServices]

Sunak telling the BoE that he's watching them won't help either - they will be very keen to try to act.

The Tories hate the fact the BoE is independant as that was part of their strategy in the 80’s get everyone into debt then wack interest rates up to 15% so no one could afford to go on strike or protest.

 

[MolteniArcore]

The Tories hate the fact the BoE is independant as that was part of their strategy in the 80’s get everyone into debt then wack interest rates up to 15% so no one could afford to go on strike or protest.

They certainly do hate it!! Johnson was mouthing off in February about Bailey! :ROFLMAO:

 

[Angus]

Any increase in base rate will be a disaster for many people at the moment.

I have just filled up my little hatchback with diesel it was £67 it was £54 when I bought it last year.

Just seen an item on the news about rents going up. I feel so angry for people who can’t get on the housing ladder if they want to. House prices going up ridiculously doesn’t help anyone unless at some stage you downsize.

We need much more affordable housing in this country.

 

[MolteniArcore]

Just seen an item on the news about rents going up. I feel so angry for people who can’t get on the housing ladder if they want to. House prices going up ridiculously doesn’t help anyone unless at some stage you downsize.

We need much more affordable housing in this country.

Sadly this isn't a new problem.