Good News, Inflation Falls To 3.4%

[ToraToraTora]

https://www.bbc.co.uk/news/live/business-68581526

Great work by the government. Interest rate cuts should follow after a few months. Just in time for Labour to wreck it.

[youngmafbog]

Well start a thread then, this one is about the economy something you know zero about, clearly.

Butt out if you cant contribute sensibly all you do is wreck yet another discussion.

[lankeela]

ymb I would give you best answer if this was my thread!

[ToraToraTora]

Ok Lanks, as you wish!

[nicebloke1]

10.28 supermarkets don't have an effect?? So they don't buy / lease land to develope on. New supermarkets / storerage  units/ central hubs / millions off staff who in turn buy houses, cars and pay tax. And you are telling everyone that only you know what your talking about.😚

[Hopkirk]

Currently interest rates are at 'normal' level.

[New Judge]

"Currently interest rates are at 'normal' level."

Indeed they are. The era of virtually free money is hopefully at an end. The UK suffered interest rates close to zero. From February 2009 to June 2022 the BoE base rate did not exceed 1%. It spent 90 consequitive months at 0.5%, sixteen months at 0.25%, and 20 months at the ridiculously low rate of 0.1%. This has caused many of te problems now apparent with the economy. Because of this virtually free money the housing market has become hugely distorted and businesses were none too careful with their investment plans with the cost of borrowing meaning they did not need to be too diligent.

Any apparent growth which the country enjoyed was merely smoke and mirrors. Now we have a situation where productivity is at an all time low (with one of the main drivers of that being tha fact that over 20% of the working age population are not in employment). The Siamese triplet chickens of "quantatitive easing" (printing worthless money),  paying people to sit on their backsides and loaning money at 0%  are now coming home to roost. Never again must such follies be repeated.

[Old_Geezer]

I don't consider the present rates normal. I consider them still too low, thus reference to being no incentive to save.

 

Granted lower inflation figures help negate that somewhat, but as pointed out they don't necessarily move together; and comparing the return for renting out your cash with the return for renting out anything else, it's always a less attractive option at the best of times.

 

The rich have other options to invest in, the less well off who have limited resources rely on building societies, banks, and other High Street financial institutions.

[Hymie]

Another post from TTT, containing Tory nonsense.

If you want to know bad things are in the UK after 14 years of Tory rule, watch this video.

 

[gulliver1]

Hymie 09.35 Another crippling video showing. What lies the Tories will tell to try and fool the public. Fortunately the public are not as radicalised as the AB Tory supporters are, and realise that Sunak is as big a liar as Johnson was.The only difference is Sunak tells lies

         🤣Without his shirt hanging out. 🤣

[gramps85]

Gulliver 11.53. The very thing that will increase the Tories popularity is a Labour Government.