Fantastic. Voters getting what they voted for. “The cost will be worth it” 😀
Ahh, but it is our own overinflated interest rates – none of that European nonsense…
You can’t put a price on sovereignty. It will be worth it all in 2066.
Can someone explain how raising interest rates helps deal with supply side price increases on essentials?
I can get the logic for non-essentials items or when the inflation is demand driven, but are they just expecting people to stop buying food?
They’re going to have to start moving the goal posts. The idea sunak and hunt can dress up another failed quarter as “all fantastic, bang on track” when people are struggling with 20% jumps in groceries and trying to renew their mortgage at these rates is insane
Ironically, if we’d hit 5% rates already, months ago, we’d have inflation issues sorted by now
If they increase interest rates by half a percent on the basis that inflation was 10.1% and not 9.9% this month (which would have been hailed as a great success), it kind of smacks of them panicking/not having a fucking clue what they’re doing
Nothing to do with people being too broke to spend, forcing prices down
My savings go up and house prices come down, happy for interest rates to keep climbing
My mortgage is currently 6.25% at the moment, it’s a joke.
There’s potential for an almighty financial crash if the interest rates remain the same or increase when fixed mortgages prior to increases end.
It’ll be like the 2008 sub prime crisis in US, mortgage defaults and banks needing bailing out again.
Can’t wait for the interest rate rise. As someone that has managed to amass quite a sizable cash pot, it’s lovely being able to finally capitalise on it. Time we got back to the historical norm.
I still can’t believe or understand why Rishi had ever said the inflation would halve by the end of the year. Makes no sense.
Lots of repossessed houses on the market for 2024 then!
I saved so fucking hard and bought a house well within my means so when my fixed rate ends I will be able to afford my payments but it pisses me right off that my payments are going to increase by hundreds of pounds a month because of the fuckwits who run our country. I did everything “right” and yet I’ll still have to pay a ridiculous amount extra over the lifetime of my mortgage.
Well that’s just nonsense. The interest rate is a gauge of confidence in the market. It’s a prediction in itself based on economic potential. As much as it sounds nice, we can’t just slap on a nice number and say that’s going to happen. If anything weird happens, like a Putin or COVID like thing, we’re back in the same place.
So when will the interest rate on my savings account rise above 0.1%?
Shits about as shocking as the sun rising every morning
Great idea, raising interest rates certainly helped inflation the THE LAST 11 TIMES DIDN’T IT? /s
Remind me what the definition of madness is again?
Rising interest rates only make me richer 😁 my savings are fantastic lol
19 comments
Fantastic. Voters getting what they voted for. “The cost will be worth it” 😀
Ahh, but it is our own overinflated interest rates – none of that European nonsense…
You can’t put a price on sovereignty. It will be worth it all in 2066.
Can someone explain how raising interest rates helps deal with supply side price increases on essentials?
I can get the logic for non-essentials items or when the inflation is demand driven, but are they just expecting people to stop buying food?
They’re going to have to start moving the goal posts. The idea sunak and hunt can dress up another failed quarter as “all fantastic, bang on track” when people are struggling with 20% jumps in groceries and trying to renew their mortgage at these rates is insane
Ironically, if we’d hit 5% rates already, months ago, we’d have inflation issues sorted by now
If they increase interest rates by half a percent on the basis that inflation was 10.1% and not 9.9% this month (which would have been hailed as a great success), it kind of smacks of them panicking/not having a fucking clue what they’re doing
Nothing to do with people being too broke to spend, forcing prices down
My savings go up and house prices come down, happy for interest rates to keep climbing
My mortgage is currently 6.25% at the moment, it’s a joke.
There’s potential for an almighty financial crash if the interest rates remain the same or increase when fixed mortgages prior to increases end.
It’ll be like the 2008 sub prime crisis in US, mortgage defaults and banks needing bailing out again.
Can’t wait for the interest rate rise. As someone that has managed to amass quite a sizable cash pot, it’s lovely being able to finally capitalise on it. Time we got back to the historical norm.
I still can’t believe or understand why Rishi had ever said the inflation would halve by the end of the year. Makes no sense.
Lots of repossessed houses on the market for 2024 then!
I saved so fucking hard and bought a house well within my means so when my fixed rate ends I will be able to afford my payments but it pisses me right off that my payments are going to increase by hundreds of pounds a month because of the fuckwits who run our country. I did everything “right” and yet I’ll still have to pay a ridiculous amount extra over the lifetime of my mortgage.
Well that’s just nonsense. The interest rate is a gauge of confidence in the market. It’s a prediction in itself based on economic potential. As much as it sounds nice, we can’t just slap on a nice number and say that’s going to happen. If anything weird happens, like a Putin or COVID like thing, we’re back in the same place.
So when will the interest rate on my savings account rise above 0.1%?
Shits about as shocking as the sun rising every morning
Great idea, raising interest rates certainly helped inflation the THE LAST 11 TIMES DIDN’T IT? /s
Remind me what the definition of madness is again?
Rising interest rates only make me richer 😁 my savings are fantastic lol