That said, it could be that VAT @ 20%, higher taxes and reduced public spending will be enough to rein in inflation and money can continue to be cheap. I would see the net effect of these as propping the FTSE 100.
The clue is in the title: http://citywire.co.uk/new-model-adviser/bank-of-england-warns-on-homeowners-vulnerability-to-rate-hikes/a409673 "if interest rates were to rise to 5% - their long-term average level - British consumers would find themselves just as indebted as they were when the credit crunch hit" Well, of course! Little has changed, few will have used this opportunity to pay down their debt. Indeed, the sheeple were told that the cheap money was to stimulate consumption. Low equity : high gearing affects a significant number of mortgage borrowers. I suppose this should be on PB's house price crash board!
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