> The Bank of England lifted interest rates up for the 14th time in a row last week from 5% to 5.25%.
So Halifax have cut _their_ rates despite the BoE increasing the base rate, the bank rates are still higher than the BoE rate, they’re just not exorbitantly higher.
This is good news in terms of there seemingly being little expectation of further significant rises.
Interest isn’t inherently a bad thing. But the way the BoE has weaponised it against the working classes, when inflation is being driven by corporate profits from rising food and energy prices outside of our domestic market, is just astonishing.
Between rises in insurance, our mortgage, food, gas, and electricity- my house will be ~£400 worse off per month compared to 2 years ago. Utter shambles.
At what point does long term fixes breaking away from BoE rate rises move from being a reflection of rates expected to come down in the mid-term future, to becoming about staving off mass defaults when existing customers current fixes end?
2 comments
> The Bank of England lifted interest rates up for the 14th time in a row last week from 5% to 5.25%.
So Halifax have cut _their_ rates despite the BoE increasing the base rate, the bank rates are still higher than the BoE rate, they’re just not exorbitantly higher.
This is good news in terms of there seemingly being little expectation of further significant rises.
Interest isn’t inherently a bad thing. But the way the BoE has weaponised it against the working classes, when inflation is being driven by corporate profits from rising food and energy prices outside of our domestic market, is just astonishing.
Between rises in insurance, our mortgage, food, gas, and electricity- my house will be ~£400 worse off per month compared to 2 years ago. Utter shambles.
At what point does long term fixes breaking away from BoE rate rises move from being a reflection of rates expected to come down in the mid-term future, to becoming about staving off mass defaults when existing customers current fixes end?