Bank of England.....my arse !!

Churchlawtonblue said:
Andrew Bailey at the BoE is utterly clueless. Raising interest rates to bring down inflation while openly stating at the same time that its largely pressures external to the UK are causing inflation. Throw in a lack of employable people caused by this government's complete inability to manage immigration properly and itsnot surprising we have high inflation. All the while this useless government and their pathetic watchdogs sits by for months and do nothing about blatant profiteering by Oil Companies, Energy Firms, Banks, Petrol Retailers etc which all adds to inflation. The Housing Market has already stalled. Construction and Development will stall, throw in Sunacks and Hunts huge tax rises on S and M businesses and recession is just round the corner.

Food inflation is running at 17% are we supposed to eat less food??

Bailey has never been able to predict anything correctly. Not even 6 mths ahead. So why anyone should have any faith in his predictions today is beyond comprehension. He's just puppet for this utterly useless government.
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S and M businesses you say, I sure the Tory back benchers will still be participating in their depraved antics :-)

To be fair interest rates is one of the only levers he can pull, he has no control over taxation, the other one being quantitative easing/tightening by the issue or removal of bonds.

Regarding food inflation running at 17%, I dont think people are meant to eat less, their thought process will be that they spend more of their disposable income putting food on the table and not on leisure and luxuries.

Do I agree with it, absolutely not, as the biggest burden is always on those with the least ability to absorb the cost increases and those already struggling to make ends meet will suffer even more.
 
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Churchlawtonblue said:
Andrew Bailey at the BoE is utterly clueless. Raising interest rates to bring down inflation while openly stating at the same time that its largely pressures external to the UK are causing inflation. Throw in a lack of employable people caused by this government's complete inability to manage immigration properly and itsnot surprising we have high inflation. All the while this useless government and their pathetic watchdogs sits by for months and do nothing about blatant profiteering by Oil Companies, Energy Firms, Banks, Petrol Retailers etc which all adds to inflation. The Housing Market has already stalled. Construction and Development will stall, throw in Sunacks and Hunts huge tax rises on S and M businesses and recession is just round the corner.

Food inflation is running at 17% are we supposed to eat less food??

Bailey has never been able to predict anything correctly. Not even 6 mths ahead. So why anyone should have any faith in his predictions today is beyond comprehension. He's just puppet for this utterly useless government.
Click to expand...
Small businesses are going under left right and centre because everyone's disposable income is dropping every month, its an absolute shitshow.
 
Kompany Car said:
S and M businesses you say, I sure the Tory back benchers will still be participating in their depraved antics :-)

To be fair interest rates is one of the only levers he can pull, he has no control over taxation, the other one being quantitative easing/tightening by the issue or removal of bonds.

Regarding food inflation running at 17%, I dont think people arent meant to eat less, their thought process will be that they spend more of their disposable income putting food on the table and not on leisure and luxuries.

Do I agree with it, absolutely not, as the biggest burden is always on those with the least ability to absorb the cost increases and those already struggling to make ends meet will suffer even more.
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True, Sadly the Government are choosing to ignore the other means to bring inflation down that they have control over such as clamping down on profiteering and easing the employment market and rasing taxes in a morally responsible way.
 
pride in battle said:
Small businesses are going under left right and centre because everyone's disposable income is dropping every month, its an absolute shitshow.
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Undoubtedly if your small business sells luxury cars, yachts, cristal champagne or beluga caviar they will be making record profits. The mega rich never seem to be affected by such things and normally make even more money during recessions.
 
Seems to be an intentional delay in rippling out to interest rates, one way at least. Fast to rise but extra cautious to hold or reduce.

It's got to the point now where we are facing having to use our savings, daughter's eduction or wedding fund basically, to pay off some of our tracker mortgage because theoretically we save money by doing that. It's not loads but it may help. Gone from 1.25 to 5.75 and despite using a third of the energy we used last year, scrapping Netflix, Prime etc, one night out a quarter, kids dropping extra clubs after school ,it's not making any difference as the rates just keep going up. All this extra interest being paid and not going to anyone who will do any good with it.
 
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