Inflation

[Dunners]

If this is to be the end of globalisation, then this isn't the beginning. I could argue that the election of Trump was.

But this certainly has the potential to dispel any remaining hope you may have had that the post-WW2 era of global cooperation was going to continue. Like any crisis, it will merely accelerate what was already in motion.

[Dunners]

Also, US government is now leaning on oil refineries to cease exports and threatening "emergency measures" if they do not comply. This is to build up domestic reserves and will add to the chaos in international markets.

If this happens, it's hard not to see energy nationalism emerging across Europe.

[tuffers#1]

Seems some people dont mind wasting gas . $10 million dollars a day

[Dunners]

Watch for the BoE's reaction to the energy caps. Especially if you have a mortgage coming up for renewal in 2023.

[Long slender neck]

Can you just give us the spoiler please?

[Dunners]

.50% is my guess.

[Rich Tea Wellin]

Won’t it get to the point where no one will be able yo be accepted, or be able to afford a mortgage and greedy banks will have to lower their rates? Or wait until people default and start a new financial crisis?

[Dunners]

It depends. We're already contemplating the Japan option, and going for lifetime mortgages that can be "inherited" by the kids. Instead of your repayments fluctuating, the length of the term just increases.

Or, to give it another name - rent.

[RedDwarf 1881]

Can you just give us the spoiler please?

OK , we’re farked

[Dunners]

Interest rate increases will now be announced on 22 September instead of next Thursday. And quite right too.

[The Mindsweep]

Interest rate increases will now be announced on 22 September instead of next Thursday. And quite right too.

But that will still be in the official mourning period which was confirmed today to continue 7 days after the funeral

[Dunners]

But that will still be in the official mourning period which was confirmed today to continue 7 days after the funeral

Yes, but - and I'm sure I speak for us all - the memory of our glorious Queen will help to keep us all warm and fed through whatever difficult times may lay ahead.

[The Mindsweep]

But that will still be in the official mourning period which was confirmed today to continue 7 days after the funeral

Yes, but - and I'm sure I speak for us all - the memory of our glorious Queen will help to keep us all warm and fed through whatever difficult times may lay ahead.

[tuffers#1]

Back over 10 %


Its just not butter

[Dunners]

[tuffers#1]

Are they blaming Aunty ?

[tuffers#1]

https://www.bbc.co.uk/news/live/uk-63431894

The Bank of England raises interest rates by 0.75% to 3% - the biggest hike in more than three decades

Big move to deal with Inflation

[Long slender neck]

Doubt it will have much effect on inflation

[Dunners]

A .75% increase is the biggest single increase for 33 years. And 3% is still very low by historical standards. It was always going to be painful weaning an economy off an ultra-low-rate era.

[tuffers#1]

Doubt it will have much effect on inflation

Not until it hits 7% +

Thats what happened the last time inflation
was so out of control

[Max B Gold]

Doubt it will have much effect on inflation

Not until it hits 7% +

Thats what happened the last time inflation
was so out of control

Different kind of inflation this time. This time it is driven by Brexit, Covid supply chain issues and price gouging by the filthy, stinkin', dirty greedy capitalist rats and not by a wage inflation spiral.

Controlling inflation using interest rates will, in time, create a slow down in the economy, higher unemployment and all that entails. It's a one club for all situations approach which plans for human misery. If only there was an alternative.

[Dunners]

Different kind of inflation this time. This time it is driven by Brexit...

Yep. I noticed that Andrew Bailey has now even suggested as much: "...there has been what I would call a UK premium on rates. Compared to the Euro area and the US, you'll see they've all gone up, but the UK clearly went up far more and it went up during the period when there was turmoil."

[Max B Gold]

Different kind of inflation this time. This time it is driven by Brexit...

Yep. I noticed that Andrew Bailey has now even suggested as much: "...there has been what I would call a UK premium on rates. Compared to the Euro area and the US, you'll see they've all gone up, but the UK clearly went up far more and it went up during the period when there was turmoil."

One of the benefits of Brexit I suppose.

[tuffers#1]

Doubt it will have much effect on inflation

Not until it hits 7% +

Thats what happened the last time inflation
was so out of control

Different kind of inflation this time. This time it is driven by Brexit, Covid supply chain issues and price gouging by the filthy, stinkin', dirty greedy capitalist rats and not by a wage inflation spiral.

Controlling inflation using interest rates will, in time, create a slow down in the economy, higher unemployment and all that entails. It's a one club for all situations approach which plans for human misery. If only there was an alternative.

You sure it was only a wage inflation spiral ?
Sounds like its excusing "the stinking dirty greedy capitalist rats" from withholding a fair days work being rewarded with a fair days pay .
Theyve never been in a one club world regardless of what Dave the C said about " All in it together ".

[Dunners]

We took back control of f*cking up our own economy. Take that, remoaners!