Price rises/ inflation

I'm pretty sure the MPC don't know what they're doing.

That's not a criticism though. I'm not sure anyone really knows the answer at this point. Even the MPC are placing huge caveats on their forward projections, like they're not really wanting to be pinned down to it.

Trying to stifle supply-side inflation by reducing demand-side inflation feels stupid in some respects but i'm not sure there's much else they can do. What's the alternative? Keep rates low and hope inflation does calm down by itself?

Rising mortgage rates is an issue but it's not one which will hurt for a few years. The vast majority of people with mortgages are tied into long deals. People will have a shock when they remortgage but that will be drip-drip rather than a massive problem all at once.
 
Indie said:
I'm pretty sure the MPC don't know what they're doing.

That's not a criticism though. I'm not sure anyone really knows the answer at this point. Even the MPC are placing huge caveats on their forward projections, like they're not really wanting to be pinned down to it.

Trying to stifle supply-side inflation by reducing demand-side inflation feels stupid in some respects but i'm not sure there's much else they can do. What's the alternative? Keep rates low and hope inflation does calm down by itself?

Rising mortgage rates is an issue but it's not one which will hurt for a few years. The vast majority of people with mortgages are tied into long deals. People will have a shock when they remortgage but that will be drip-drip rather than a massive problem all at once.
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It’s so tragic and ironic because right up until the pandemic they were suffering from too low inflation and I remember reading about how some economists thought that low interest rates and low inflation is something the West will never get out of.
 
We’re going to starve and freeze to death this winter but apprently things are getting even worse after that. :D
 
18% just in time for the UK to buy back the gas it recently sold to Netherlands and Belgium (which we cannot store ourselves) at a much higher price.
 
Should buy me some cheap English pigs (oink oink etc.) but the Swedish krona is in even more miserable condition right now. :bruised:
 
So while we wait for a return to imperial measurements, has Truss decided to placate the fans of the old days by going back to a pre-decimal exchange rate?
 
I mean about a fifth of the country will be forced into a Victorian diet of gruel this winter, so I don't think the 70s THAT bad relatively, is it?
 
There we go. That's who runs the country now. The ERG and hedge funds. Fuck. This.
 
We've moved beyond the binfire, I think. This is a SKIPFIRE.

Tivvy-Skips-Pic-1.jpg
 
I can imagine international investors and megacorps are currently eyeing up companies in Britain right now. A purchase of a British owned company is suddenly 10% cheaper than it was a few days ago.
 
Indie said:
I can imagine international investors and megacorps are currently eyeing up companies in Britain right now. A purchase of a British owned company is suddenly 10% cheaper than it was a few days ago.
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Oh. Who could possibly want to take advantage of that? 🤔
 
Rates are comfortably heading above 5 at least at this rate. Sunak was right.

This is astonishing.
 
Well everyone here wanted Liz to bring the Tories down even though we all knew it would crash the country in the meantime, so….

:hostage:
 
funky said:
Well everyone here wanted Liz to bring the Tories down even though we all knew it would crash the country in the meantime, so….

:hostage:
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It's okay, Rishi will have his go on wrecking the economy in a few weeks. They're all going to have a go at it, and we're going to have no choice but to watch it get screwed, just like Liz Truss' husband :(
 
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