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For all the mortgage holding Brexit voters who like lemmings followed liar Johnson & look at me Farage. Quote “The UK is materially further from the inflation target than either the US [where inflation is 3.2 per cent] or the Euro area [where inflation is 2.9 per cent].” Just don’t carry on whingeing how much your new mortgage is.
You can't blame Brexit for inflation, it has been a global problem affecting all economies. Admittedly the UK is further from it's inflation target than the US and Eurozone, but the blame for this lies firmly with Bailey and Co at the BoE who should have started raising rates more aggressively when they started the rate raising cycle.
Just an observation,Mortgage Interest Rate in the 1970 was !5%.
Sorry,should read15%
15% sounds fab. Can i have some more please ?
And German growth is way below that of the UK. EU inflation is being dragged down by the negative inflation rates in Belgium, Netherlands and Denmark , plus Italy is also at 1.8% (but then Italy hasn't seen any growth for the past 20 years). So basically Europe must be looking at UK growth and employment rates with lots of envy.
G59
''the US [where inflation is 3.2 per cent]''
''Just don’t carry on whingeing how much your new mortgage is.''
Many people do not have a mortgage.
US 30 year mortgage rates have fallen from 8% to a little under that now
Nobody can compare high interest rates to what happens now
how much was energy?
how much was petrol then?
how much was food then
high interest rates just prove how greedy banks are - people might finally wake up to the scams we see
come on LLOY
Gary59,
What a silly petulant post. You’ll be blaming Nrexit for the weather next. Bailey and the BoE are responsible for inflation. Transitory wasn’t it ? The FED acted quickly unlike our morons and the basket case Eurozone has such such weak economies now that they don’t need to raise rates as high as us and the USA. But don’t let that get in the way of your Brexit bitterness. Do carry on…….
Gate
Respect bros but its the Govt that caused the inflation... Even now its still helicoptering money into the economy and increasing benefits by a large amount. .Covid response was a disaster. Billions gone to fraudsters and a totally disrupted supply chain, creating shortages which ramps up the inflation.
Bailey only has interest rates in his toolbox. The Govt has refused to reduce the tax on fuel etc...and as for the budget. Dire.
Delinquency rates on loan increasing and the economy on the life support. Bailey is right in his assessment. As to if he should be saying so is another matter.
Mismatched values all over the markets. Lloyd is no exception... As for comparison with the metro
Lloyds.
https://www.youtube.com/watch?v=aa3HIsLvMCg
Metro
https://www.youtube.com/watch?v=VYrLCpDygOw
I reckon the electioneering budget in March will do the buisness(hope), nothing in the last one for me and i guess a lot of other people.
Gunsup
The inflation has impacted economies globally, not just the UK. Chiefly because of bottlenecks in global supply chains when coming out of COVID lockdowns, and increased energy prices.
And saying the Government COVID response was a disaster is easy to say with hindsight. The fact is the COVID pandemic occurred so quickly globally and was uncharted territory for every country around the world in how to respond. And all opposition parties at Westminster agreed with the measures the Government introduced at the time to respond to COVID.
Hu
Was all made up on the hoof.
Where in the pandemic plan does it says. Lockdown.?
Where it says hand out billions of money without due diligence.?
Where it says eat out to help out?
Nowhere.
Where does it say have stockpiles of PPE etc.. In big letters...
We knows the Govt went from stockpiles to robust supply chains... Well those chains failed ..
The Countries debt has soared . Its a fact. The health of the nation has suffered with high excess deaths..
Worst thing no one held to account. In the fact the guy who spent all the dosh is now running the show.
Is true Brown gave away the gold almost but the rest of the country these jokers has given away.
Gunsup
As I said, the COVID pandemic happened so quickly and was unchartered ground GLOBALLY. I guess the UK Government "Pandemic Plan" that was in place prior to COVID was soon found to be not working or suited to what was being experienced with COVID so yes they had to react by trial and error to try and counter COVID.
Gunsup,
Yes money did get wasted on Covid but that wasn’t inflationary. Hardup is correct. Supply chains breaking down caused global inflation. Bailey was too slow acting.
Gate
Respect. Inflation. Too much money chasing too few goods. QE and money helicoptering one side of the coin .. Supply side for sure chaos.
To a degree Keynesian economic suggest inflation good to reduce debt. Imo Govt also thinking that.. Trouble is the genie got out the bottle.
Carney set low rates in motion. His ULIR policy. Bailey just he plough the same furrow. Anyhow Increasing the rates was never going to tame high fuel and energy costs. Two of the big drivers.
We is where we is though now..
Is funny though inflation down and Sunak saying was his doing but of course not the case.
They bicker like the school children.
No 10 on collision course with Bank of England and OBR over economy
https://www.msn.com/en-gb/money/other/no-10-on-collision-course-with-bank-of-england-and-obr-over-economy/ar-AA1kGnC2