Base rates

[Nemo]

Now 5% - should be 10% but that's all for the moment:

https://www.bbc.co.uk/news/live/business-65977222

In the USA Powell has 'paused' rate rises but when this has happened in the past it ha been followed by a decline in rates.

Expect the usual howls from people with mortgages. Election time is coming up and i hope Sunak doesn't try to buy votes by helping those with mortgages.

[Tedx]

Now 5% - should be 10% but that's all for the moment:

=Rich guy with cash on deposit eh?

[Lootman]

Now 5% - should be 10% but that's all for the moment:

=Rich guy with cash on deposit eh?

Or someone waiting for house prices to come down so that they can buy cheaper?

[Nemo]

=Rich guy with cash on deposit eh?

Yep

[DrFfybes]

Expect the usual howls from people with mortgages. Election time is coming up and i hope Sunak doesn't try to buy votes by helping those with mortgages.

Looking at the Beeb there seems to be a majority of people saying "we didn't get any help in 1992", and they borrowed it, thy should pay it back" over the "oh poor people not able to afford the roof over their head".

Then again at this time of day the beeb is mainly used by older people with little sympathy for the "2 new cars on PCP and £250/month going out on TV, mobile phones, and internet" generation.

Still a PITA, a previously insignificant Marcus account put MrsF thirty odd quid over the marraige allowance threshold and cost us £250,

Paul

[Tedx]

=Rich guy with cash on deposit eh?

Yep

At least you're honest!

[Nemo]

Looking at the Beeb there seems to be a majority of people saying "we didn't get any help in 1992", and they borrowed it, thy should pay it back" over the "oh poor people not able to afford the roof over their head".

No one was talking about bailing out pensioners who were getting peanuts on their savings while people binged on cheap credit.

[1nvest]

Looking at the Beeb there seems to be a majority of people saying "we didn't get any help in 1992", and they borrowed it, thy should pay it back" over the "oh poor people not able to afford the roof over their head".

No one was talking about bailing out pensioners who were getting peanuts on their savings while people binged on cheap credit.

The government did massive amounts to bail out the elderly - from care homes (exported Covid out of the NHS into care homes - killing over 100,000 of 'em). Killed off enough claimants that the remainder could even have a inflation adjusted increase in the state pension last April

[1nvest]

Now 5% - should be 10% but that's all for the moment:

=Rich guy with cash on deposit eh?

Or someone waiting for house prices to come down so that they can buy cheaper?

But where whilst house prices decline in real terms they still continue to rise or stay level in nominal terms, and whilst cash on deposit also declines in real terms.

[Tara]

Now 5% - should be 10% but that's all for the moment:

https://www.bbc.co.uk/news/live/business-65977222

In the USA Powell has 'paused' rate rises but when this has happened in the past it ha been followed by a decline in rates.

Expect the usual howls from people with mortgages. Election time is coming up and i hope Sunak doesn't try to buy votes by helping those with mortgages.

Yes the base rate should really be at or above the inflation rate but that would probably scare too many people and so it will probably not go much higher than 6%.

Amazing how a 5% interest rate can become a national emergency!

For most of the 70s, 80s, and 90s, a 5% UK base rate would have been considered to be very low.

Help us! Help us! We took out a huge mortgage to speculate on the Ponzi-like UK housing market in the hope of making lots of money and we did not really understand that interest rates could ever go above 1%. Please bail us out immediately and please give us lots of more free money like you did when our energy bills were rising.

What a joke.