Peterdev
Well-known member
- Joined
- 17 Dec 2017
- Messages
- 4,258
With inflation soaring at unprecedented levels, the government I think has lost the plot.
Interest rates should have been increased but instead of which the government famously known for dithering has done nothing.
I am sure they are worried about the opposition and those with mortgages.
With rates at 0.1% I feel there should be a gradual return to the 4% or 5% level. This would of course benefit savers who’ve had a torrid time for several years. Mortgages are still at their cheapest ever but a long way off historic rates of 15% back in the early eighties.
A responsible government can and should’ve increased rates at the meeting a couple of weeks ago. As usual it will be too little and too late.
If inflation hits higher levels soon, a knee jerk reaction will cause even more grief.
Interest rates should have been increased but instead of which the government famously known for dithering has done nothing.
I am sure they are worried about the opposition and those with mortgages.
With rates at 0.1% I feel there should be a gradual return to the 4% or 5% level. This would of course benefit savers who’ve had a torrid time for several years. Mortgages are still at their cheapest ever but a long way off historic rates of 15% back in the early eighties.
A responsible government can and should’ve increased rates at the meeting a couple of weeks ago. As usual it will be too little and too late.
If inflation hits higher levels soon, a knee jerk reaction will cause even more grief.