Rate predictions 2022, 2023 23 June at 10:30AM in Savings & Investments 42 replies 3.2K views

ChilliBob

Just a 'fun' thread (if that's how you get your kicks like me lol) predicting the final interest rate (UK that is) for the end of 2022, and 2023.

My guess:

2022: 1.75%
2023: 3%

There you go. Over to you guys for your predictions. Sorry if this has already been done the thread can be deleted, but I don't recall it.

bd10

2022-end: 2.5 - 3%

2023-end: 3 - 3.25%

ChilliBob

Blimey, that'd see the MPC upping their game with these 0.25% increments! 

Cheers for participating in my pointless but a little interesting thread

Bridlington1

2022- 2.75-3.25%
2023- 4-5%

Dazed_and_C0nfused

ChilliBob said:

Blimey, that'd see the MPC upping their game with these 0.25% increments! 

Cheers for participating in my pointless but a little interesting thread

On the most recent vote 1/3rd wanted a 0.5% increase so it won't necessarily be 0.25% each time there's an increase.

ChilliBob

Dazed_and_C0nfused said:

ChilliBob said:

Blimey, that'd see the MPC upping their game with these 0.25% increments! 

Cheers for participating in my pointless but a little interesting thread

On the most recent vote 1/3rd wanted a 0.5% increase so it won't necessarily be 0.25% each time there's an increase.

Indeed. And there's no reason, from what I know that these amounts have to be in 0.25% increments - despite it seems to be the case both here and in the US for some reason.

HHarry

Having been mortgage free for the past 5 years whilst rates were low, I imagine that they’ll now skyrocket as I get a mortgage to move.

 Probably 8% by year end knowing my luck.

Patr100

Can't put a definite figure on it but recent feeling is the tide has increased for more. My guess is nearer 3% by the end of the year.  Inflation showing no signs of abating - raw material costs nearer 15% or more and that is BEFORE prices hit the shops and it affects consumer rate  . We tend also to need to follow the US as that also affects our inflation due to exchange rates (the £ is quite weak to the Dollar lately) 

https://www.theguardian.com/business/2022/jun/20/bank-of-england-policymaker-calls-for-faster-rate-rises-to-prevent-weak-pound-fuelling-inflation

https://www.theguardian.com/business/2022/jun/22/fed-raising-rates-compelling-evidence-lowering-inflation-jerome-powell?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter

MX5huggy

ChilliBob said:

Dazed_and_C0nfused said:

ChilliBob said:

Blimey, that'd see the MPC upping their game with these 0.25% increments! 

Cheers for participating in my pointless but a little interesting thread

On the most recent vote 1/3rd wanted a 0.5% increase so it won't necessarily be 0.25% each time there's an increase.

Indeed. And there's no reason, from what I know that these amounts have to be in 0.25% increments - despite it seems to be the case both here and in the US for some reason.

Apart from 0.25 to 0.1 and back to 0.25 it’s been multiples of 0.25 since October 1996 when BoE took responsibility for rate setting from the Government. 

2022 - 3% 
2023 - 4%

masonic

Playing devil's advocate...

2022: 2.5%

2023: 0.25%

What_time_is_it

2022: 3%
2023: hitting 5% at some point, maybe coming down again by December?