Rates To Rise As Prices Soar!

[Roobaba]

UK interest rates: Another rise expected as prices soar - BBC News
https://www.bbc.co.uk/news/business-57764601

The Bank of England is expected to increase interest rates for an 11th consecutive time following a surprise jump in the rate of rising prices.

So ABers what's the solution? (within the realms of reality..) there must a simple answer to all of this, or must we all endure further hardship, heartbreak and increased debt..

[youngmafbog]

Still too low IMHO. 5-6% would be nearer the mark.

As for prices, it's Global so very difficult to do much about it apart from fuel and thats down to chasing a ridiculous net zero whilst we are sat on huge reserves. Would take a while to get going again but just the prospect of more resources would drive futures down. Sunak needs to get drilling and digging.

[Peter Pedant]

this is a bit like the petrodollar thing 1973
arabs tripled the price of oil, er 1973
so prices tripled in eighteen months.

accounted for house prices tripling 1970-73
and no one seems to have noticed

[ToraToraTora]

You can thank all the inflation busting pay rises to the public sector 5C brigade. More dosh = higher prices = higher inflation = more dosh = higher prices = higher inflation.....etc

[ToraToraTora]

.....if Labour get in you'll look back fondly on these days.

[douglas9401]

Aye, we should be grateful for what we've got, pay rises aren't for the likes of us, we should shut up and get back to work.

***.

[youngmafbog]

Can you define "The likes of us" ?

[youngmafbog]

Why is it TTT can be called a plonker or a Knob or various other terms yet if he even uses just a bit of rhyming slang all hell breaks lose?

[douglas9401]

The man on the Clapham omnibus.

[youngmafbog]

The worker, the Banker, the retiree? All could be on the Clapham bus.

[ToraToraTora]

poor old doug, cannot see how "inflation busting" pay rises, boost inflation! The clue is in the name me old china.

[ToraToraTora]

YMB: "Why is it TTT can be called a plonker or a Knob or various other terms yet if he even uses just a bit of rhyming slang all hell breaks lose?" - I am used to the double standards YMB, TBH if the 5C are not calling me names I start to worry.

[MissTerious2]

9.13 I agree and to just call someone a knob which stands alone and emphasises it,without it even being in a sentence is rude and very childish, and uncouth! Its like shouting it out.

[MissTerious2]

There is no simple answer. It's a world crisis we have to live through it. I am so surprised that so many have no idea about how economics
work. I'm not particularly brainy, but I despair and usually keep away from the News Section.

[Old_Geezer]

Solution ?

Rates should rise considerably as they have been at near theft levels for ages. But it has to be gradual for the sake of those who took advantage of the situation and recklessly over-borrowed.

Meanwhile life consists of ups and downs, and unwise decisions sometimes lead to hardship as a consequence. However we do have a welfare safety net in this country, which should help.

[MissTerious2]

I'm agreeing with OG again

[douglas9401]

Pitied by Tora and by association his early morning deputy.

That's me sorted aaaaht then.