(Buckle up) Recession for more than a year

[Churchlawtonblue]

With inflation being driven by market forces external to the UK and not UK consumer spending. I dont undertand how putting up interests rates does anything to help stop inflationary pressures. All this move by the BOE seems to do is put higher costs on the economys middle earners , ( ie most of us) and pushes the country further towards a recession.

An utterly bizarre and stupid move by the BOE imo.

 

[Deleted member 77198]

With inflation being driven by market forces external to the UK and not UK consumer spending. I dont undertand how putting up interests rates does anything to help stop inflationary pressures. All this move by the BOE seems to do is put higher costs on the economys middle earners , ( ie most of us) and pushes the country further towards a recession.

An utterly bizarre and stupid move by the BOE imo.

One thing it does is allows savers to start seeing a return on their thriftiness over the years. Maybe they’ll be able to start spending more money as they have more of it.

 

[Bill Walker]

We just had 3 interest rate rises in 3 months. 0.5% each one.

 

[BerkshireBlue]

One thing it does is allows savers to start seeing a return on their thriftiness over the years. Maybe they’ll be able to start spending more money as they have more of it.

They won't as the banks won't pass the rates on anway

 

[Cheadle_hulmeBlue]

Is the USA already in a technical recession?

 

[Blue Maverick]

Manchester’s GDP is on the up. The second fastest growing in Europe to be precise.

2021 Manchester’s economy grew 8%
The predictions for end of year 2022 is for us to have had a growth of 6.5%

28,000 new jobs in Manchester over the next few years

Greater Manchester’s Economy To Grow By £1.9bn And Create Almost 28,000 Jobs Between 2021 and 2023

www.irwinmitchell.com

They won’t tell you any of this on the News though because it’s too positive. They just want to spread doom and gloom and make people feel miserable and moan about how shit everything is.

With everything at home rising mate, I’d say it is doom and gloom, if you could cut back to say entertainment etc and bunker down a5 home to ride it out, then fair enough, but even at home you’re fucked, pray for a decent winter.

 

[BerkshireBlue]

Which poster was arguing with me in January about the obvious crisis we were just about to hit? They said as GDP was 1.6% up for the quarter and we were in a really strong position. Talk about clueless. they couldn't see what was coming

 

[Cricket Blue]

Can someone help me please?
I got my first mortgage in 2020 just before the pandemic hit.
It's on a fixed rates until early 2025.
But with what's going on at the moment mean I will likely get a massive leap in 2025?
Sorry I am trying to learn a lot more on things like this now I am a home owner.

 

[Churchlawtonblue]

Bailey hasn't explained how raising interest rates brings down energy or fuel or food costs. These are essential items and are rising due to market forces outside the UK. ?

 

[Mazzarelli's Swiss Cheese]

Since 2008 stagnation, now inflation and soon recession. I miss boom and bust and making hay whilst the sun shines. Economically its been cloudy almost entirely for 14 years with many more to come.

Forgot good old austerity as well

City are good though

I think we dodged the bullet of runaway inflation and high interest rates in 2008 and effectively swapped that short sharp shock for a moribund decade or more.