RE: What’s driving this down today24 Jun 2023 11:03
I think the fact that they are even speaking about help for mortgages, tells me that interest rates are high enough already.
They left it to late to start raising them, and now they are raising them way to fast.
All they have created is a boom and bust scenario. Loop.
People have too much spending power, so they raise rates.
They raised the too high too quickly so they flood the economy with bailouts, which in turn will cause higher inflation again.
A bit like driving a car, when you approach a bend going way too fast, all of a sudden you find yourself oversteering,
Before you know it your losing control and steering in the opposite direction, and the only way to get the car back under control is to take your foot off the accelerator, And not yank the steering wheel from left to right so hard which is what the gov and now seem to fail to acknowledge