People do not seem to understand that the BOE rate now, is still lower compared to historical figures. The average rate for the last 50 yesterday is about 9 percent. Average over that last 100 years is 8 percent 5 right now is still well below average on the grand scheme of things. Too many people have taken on too much debt over the last decade, are now hooked on cheap debt, and are starting to feel the consequences of those decisions.
They mean it in terms of affordability. The pain depends on 3 things, rates, house prices and wages. It's harder to afford a £400k mortgage at 5% earning £40k than it was in the old days to afford a £40k mortgage at 15% earning £20k for example.
They need to bring down the rates asap I’m a bricklayer of 36 years and just been laid off and prior to that ten gangs was laid off the week before and we all struggling to find work there hardly anyone buying houses because house prices are too high and they can’t afford the payments on the interest there’s a massive shortage of housing and the trades who build them are losing there jobs and that’s not good this lads are going to get a job in another industry and then we will have a shortage of trades come on Bank of England do the right thing
BoE supposed economists can’t even read the ONS detailed data which shows the only inflation is in Housing and Rents, which in turn make up a higher % of the CPI data, and all other factors are down. So in fact by keeping rates high actually fuels the very thing which is keeping inflation up. What a bunch of idiots! The same guys who said inflation was transitory and did not raise rates when they should and made inflation happen, all made worse by the billions of pounds printed in QE devaluing the pound at the same time……unbelievable!
10 หลายเดือนก่อน +3
Hasn't stopped my Landlord increasing my rent by £75 pm then handing us a section 21 to leave and find some where else to live after living here for 8 years by 31 May 2024.
Remind me how much the inflation is if 5.25% is sky high..and what about devaluation of currency through fractional reserve banking and quantative easing how many % is that..how much debt per person has the government borrowed? who's getting the interest on them payments?how did they borrow it again??
Group think..yes, the BOE will follow the US FED..its why the the BOE meet up about 24 hours after the FED has made its decision. So they will always be group thinkers following what the FED do.
People do not seem to understand that the BOE rate now, is still lower compared to historical figures.
The average rate for the last 50 yesterday is about 9 percent. Average over that last 100 years is 8 percent
5 right now is still well below average on the grand scheme of things.
Too many people have taken on too much debt over the last decade, are now hooked on cheap debt, and are starting to feel the consequences of those decisions.
It's lower historically, but everything was much cheaper.
All my parents era were mortgage free in their late 30s early 40s on basic jobs.
What happened at 12 noon was a few craft beers with high end chasers!!! 🤣🤣🤣🤣🤣
Think Liam Halligan may have had too many lunch beers
"sky high borrowing rates" ??????? check rates in the 80s/90s
GBN spreading misinformation as usual.
They mean it in terms of affordability.
The pain depends on 3 things, rates, house prices and wages.
It's harder to afford a £400k mortgage at 5% earning £40k than it was in the old days to afford a £40k mortgage at 15% earning £20k for example.
They need to bring down the rates asap I’m a bricklayer of 36 years and just been laid off and prior to that ten gangs was laid off the week before and we all struggling to find work there hardly anyone buying houses because house prices are too high and they can’t afford the payments on the interest there’s a massive shortage of housing and the trades who build them are losing there jobs and that’s not good this lads are going to get a job in another industry and then we will have a shortage of trades come on Bank of England do the right thing
BoE supposed economists can’t even read the ONS detailed data which shows the only inflation is in Housing and Rents, which in turn make up a higher % of the CPI data, and all other factors are down. So in fact by keeping rates high actually fuels the very thing which is keeping inflation up. What a bunch of idiots! The same guys who said inflation was transitory and did not raise rates when they should and made inflation happen, all made worse by the billions of pounds printed in QE devaluing the pound at the same time……unbelievable!
Hasn't stopped my Landlord increasing my rent by £75 pm then handing us a section 21 to leave and find some where else to live after living here for 8 years by 31 May 2024.
Hammering small time landlords is very popular among the grievance mongers - it has an effect.
Remind me how much the inflation is if 5.25% is sky high..and what about devaluation of currency through fractional reserve banking and quantative easing how many % is that..how much debt per person has the government borrowed? who's getting the interest on them payments?how did they borrow it again??
Is Liam pissed.
Group think..yes, the BOE will follow the US FED..its why the the BOE meet up about 24 hours after the FED has made its decision. So they will always be group thinkers following what the FED do.
They don't have a lot of choice. That's the thing about "sovereignty" the ability to make your own decisions is illusory.
Those jurnos are hard core, liquid lunch misters.
My Names Liam
I Get It Wrong All The Time
And The B.O.E Chief
Is a right Drip
this guy genuinely blames putin for UK's inflation 🤣🤣🤣
“ a bunch of, er, economists”.
Talking pints?
May at best ????? Oh begeeezus, please don't tell me that Theresa May is back.
Bank of England looking in the rear view mirror and hanging onto US shirt tails
Interest rates need to be cut to around 4.5% at least
Eventually, but not anytime soon - It would be economic suicide to drop it 0.75%
In time they will, probably by the end of the year.
Lol
“…mortgage owners….” Do you mean mortgage givers?
Good old Liz Truss, really earning that PM pension
Daring to be different caused the Financial crisis, careful works just fine for me.
Pished as a ger-nute
Jeez, he needs to look after himself a bit better than that...
Thats if
The Global Financial
Crash doesn't happen
😂😂😂😂😂😂😂😂😂
Good, my savings finally getting some interest
We'll be in deflation and recession in a year if this keeps up
Certain sectors could do with a bit of deflation to be fair
The Bank of England must reduce rates immediately. There isn’t a single bank that offers the BoE base rate. The governor is a disgrace.