Inflation - when is this going to end?

[metalblue]

Why is the pound so weak do you think ?

Even the Aus$ is worth 62 pence. In 1999 I transferred some pounds to Aus $ and got 3 dollars to every pound, so it was worth 33 pence.
Thats a massive change.

Primary problem. A largely across the board flight to USD driven by higher interest rates. UK 10yr yield trading around 3.5%. We need to see BoE raise rates 100bps to calm markets and indicate more to come. Money Market’s aren’t a charity, they will always seek haven in a basket where inflation is nearest to interest. Government will always want inflation above interest as it naturally eroded debt.

Secondary problem. Truss economic policy. Hell of a gamble and markets don’t like that. The rationale is simple but unnecessary.

Not a material part of this problem. Brexit.

 

[pluto]

Bloomberg commentator saying maybe emergency B of E rate hike. He suggested minimum 200 base points.!!!

 

[metalblue]

Bloomberg commentator saying maybe emergency B of E rate hike. He suggested minimum 200 base points.!!!

200bps in next meeting? Wow, shock event territory. I’d not be surprised to see Truss take back interest rate decisions given the political fallout of that - she’s that unaware of her limitations

 

[Keeper!]

People will look back in a generation and be truly amazed at our arrogance, stupidity and hubris.

We had it and we fucking blew it, basically.

Amazing that our older generation had to fight a war to protect Europe and the wider world from the Nazis, and then after the sacrifice of millions of lives, and the freedom of Europe, 50 years later we tell them all to fuck off because we are British.

Whoever voted for Brexit has destroyed the future for the younger generations and in doing so then should be utterly and totally fucking ashamed.

 

[Elbow beards]

Bloomberg commentator saying maybe emergency B of E rate hike. He suggested minimum 200 base points.!!!

What does 200 base points mean?

 

[gordondaviesmoustache]

Amazing that our older generation had to fight a war to protect Europe and the wider world from the Nazis, and then after the sacrifice of millions of lives, and the freedom of Europe, 50 years later we tell them all to fuck off because we are British.

Whoever voted for Brexit has destroyed the future for the younger generations and in doing so then should be utterly and totally fucking ashamed.

Selfish cunts.

 

[TheBlueDune]

What does 200 base points mean?

2% increase

 

[Elbow beards]

2% increase

Bloody hell!

 

[argyle]

Amazing that our older generation had to fight a war to protect Europe and the wider world from the Nazis, and then after the sacrifice of millions of lives, and the freedom of Europe, 50 years later we tell them all to fuck off because we are British.

Whoever voted for Brexit has destroyed the future for the younger generations and in doing so then should be utterly and totally fucking ashamed.

Just to nickpick, our older generation fought alongside Europeans and other nations and nationalities to fight facism. It was the allies that won.

Not that you meant this but the idea that it was just us that saved European is part of the thinking that has pervaded, and held people back, in this country for a generation since... that we didn't need Europe and could go it alone like before.

 

[Keeper!]

Just to nickpick, our older generation fought alongside Europeans and other nations and nationalities to fight facism. It was the allies that won.

Not that you meant this but the idea that it was just us that saved European is part of the thinking that has pervaded, and held people back, in this country for a generation since... that we didn't need Europe and could go it alone like before.

Agreed, including the Russians I might add but the gist of what I said is correct, we all fought for freedom and within 1/2 a century have told our allies to all go forth and multiply and in doing so have destroyed the futures for our kids.

A lot of people in our country still think we have some sort of Empire and we as a Nation are still relevant, sadly we are now a farty little Island, with little going for us.