Inflation at least 20% if you only buy food, rent and energy bills like most people.
But Let’s raise interest rates from 0.x to 0.y
You can see how over-leveraged the entire western world is now by the fact that they can’t even digest a fraction of inflation as interest.
Buckle up ladies and gentleman – shits about to hit the fan.
so a savings account will finally be worth something again?
I remember the days when 3% was a standard
Really looking forward to my remortgage for a new fixed rate coming up next year…
Huzzah so now millennial FTB can get screwed by high property prices and high mortgage interest
This should have been done 3 years ago to stop the property market going nuts..
Now it’s only gonna hurt harder..
Gas and electric are at record high.nhs waiting lists are at record numbers, fuel is ridiculous, cooking oil is like gold,
Yet BJ & co say they have done a great job.
I haven’t even gone in to the covid debarkle
Anyone know how long before this makes banks increase their mortgage rates for fixed products?
Also typically how much it might increase – a 0.25% base rate doesn’t seem to actually increase fixed deals by 0.25% for example
Over a decade of Tory and they haven’t even tried to stabilise the economy. Much like Boris’ sex life it is all pump and dump.
Should have been raised years ago to prevent such ridiculous asset inflation
Saved for years during low interest rates, waiting for the property bubble to pop. Now that I’m in a position where my hand is forced to buy soon, I’m seeing record high property prices and on the brink of high interest rates ‘for years to come’. F**king great.
It’s mad that 1% is a 13 year high..
Just out of curiosity, why are people making such a big deal out of raising interest rates to 1%.
Pre 2008 recession interest rates were above 5% and based on what I can understand the low rates helped push prices of the housing market sky-high.
As someone who is 29, on a salary in the low 30ks, I am struggling to understand why the higher interest rate is bad
But we’re British! Surely some sort of Insurrection that we used to be so popular for could never happen! /s
One percent isn’t going to do shit to persuade anyone from acting any different with their savings or borrowing
holy shit holy shit, with this i might just get an extra penny in a few years!
Love that tackling the cost of living crisis means making my mortgage mire expensive
The governor of the Bank of England seems like a nice man but he does not inspire confidence.
17 comments
Inflation at least 20% if you only buy food, rent and energy bills like most people.
But Let’s raise interest rates from 0.x to 0.y
You can see how over-leveraged the entire western world is now by the fact that they can’t even digest a fraction of inflation as interest.
Buckle up ladies and gentleman – shits about to hit the fan.
so a savings account will finally be worth something again?
I remember the days when 3% was a standard
Really looking forward to my remortgage for a new fixed rate coming up next year…
Huzzah so now millennial FTB can get screwed by high property prices and high mortgage interest
This should have been done 3 years ago to stop the property market going nuts..
Now it’s only gonna hurt harder..
Gas and electric are at record high.nhs waiting lists are at record numbers, fuel is ridiculous, cooking oil is like gold,
Yet BJ & co say they have done a great job.
I haven’t even gone in to the covid debarkle
Anyone know how long before this makes banks increase their mortgage rates for fixed products?
Also typically how much it might increase – a 0.25% base rate doesn’t seem to actually increase fixed deals by 0.25% for example
Over a decade of Tory and they haven’t even tried to stabilise the economy. Much like Boris’ sex life it is all pump and dump.
Should have been raised years ago to prevent such ridiculous asset inflation
Saved for years during low interest rates, waiting for the property bubble to pop. Now that I’m in a position where my hand is forced to buy soon, I’m seeing record high property prices and on the brink of high interest rates ‘for years to come’. F**king great.
It’s mad that 1% is a 13 year high..
Just out of curiosity, why are people making such a big deal out of raising interest rates to 1%.
Pre 2008 recession interest rates were above 5% and based on what I can understand the low rates helped push prices of the housing market sky-high.
As someone who is 29, on a salary in the low 30ks, I am struggling to understand why the higher interest rate is bad
But we’re British! Surely some sort of Insurrection that we used to be so popular for could never happen! /s
One percent isn’t going to do shit to persuade anyone from acting any different with their savings or borrowing
holy shit holy shit, with this i might just get an extra penny in a few years!
Love that tackling the cost of living crisis means making my mortgage mire expensive
The governor of the Bank of England seems like a nice man but he does not inspire confidence.