RE: Slowly but surely we edging up7 Jun 2022 17:01
Plato,
I wouldn't be surprised if more money was printed rather than crippling 8% interest rates. A lot of us paid mortgages at 15% and it wouldn't bother me as I'm lucky enough to have cleared my mortgage. Sadly since the 2008 financial crash, QE has ensured interest rates remained at ridiculously low levels and half the people out there with a mortgage haven't been paying it back with base rates over 1%. It's not just the BoE. The ECB and Fed have been equally culpable. It's called kicking the can the road so as to avoid recession. Don't be surprised if base rates top out at around 3% and we have to live with meaningful inflation for a few years......