BoE raise interest rates by 0.50% to 4%

mi-key

BoE are forecasting inflation will drop to 3% by the start of next year, and then drop from there ( it  has already started dropping slightly ). It is likely interest rates could drop from what they are now, so any other small increases will be temporary. Experts are predicting interest rates will hover around 3 -3.5%

https://www.thisismoney.co.uk/money/markets/article-11705363/How-high-UK-rates-go.html

mi-key

Sorry Tony, it doesn't look like your massive crash and 50% off houses is going to happen any time soon thankfully 

TonyTeacake

mi-key said:

Sorry Tony, it doesn't look like your massive crash and 50% off houses is going to happen any time soon thankfully 

You don't have to be sorry as it don't really make any difference to me, my bungalow is fully paid for so I don't have a mortgage. At least I will get a bit extra on my savings with interest rates going up. Also, I don't have a vested interest in property prices going up like some on here.

It's the younger generations I feel for and I always could see this carnage was coming when this property bubble was inflating over the last few years. Let's not sugar coat the way the economy is heading because I think most of us now know its going to get really bad. You can keep listening to some of the so called experts forecasts because they have got it all wrong.

ABFG

Inflation was bound to fall pretty quickly once the increased energy costs started being priced in. As it rose, so inflation increased. As it holds steady, so inflation will drop a year on from reaching the plateau. This doesn't help us much though, as inflation falling doesn't account for everything now being more expensive due to the higher, albeit now steady, energy prices.

mi-key

ABFG said:

Inflation was bound to fall pretty quickly once the increased energy costs started being priced in. As it rose, so inflation increased. As it holds steady, so inflation will drop a year on from reaching the plateau. This doesn't help us much though, as inflation falling doesn't account for everything now being more expensive due to the higher, albeit now steady, energy prices.

 Hopefully the government will be forced to take some action against the profiteering companies like Shell ! 

IAMIAM

Its going to go 4.25 then 4.5 then maybe 4.75 and then back down to around 4ish over the next 12 months IMO

Sarah1Mitty2

IAMIAM said:

Its going to go 4.25 then 4.5 then maybe 4.75 and then back down to around 4ish over the next 12 months IMO

I think it will hit 6%, inflation is now rooted in the system because they are acting too late.

Dandytf

Continue to watch rates with interest, wonder if my 3.4 fixed 5 years is proved to be decent decision over next few years.
Only potential regret is if rates go low enough again for trackers to become appealing.
I suspect .25% BOE rises during this year.

sevenhills

mi-key said

 Hopefully the government will be forced to take some action against the profiteering companies like Shell ! 

We used to have many energy companies and they competed on prices. We no longer have competition, just a price set by the government. The profits made by Shell, are mostly from outside of this country.
It's great to have multinational companies listed on the London stock exchange and paying UK taxes.

Aberdeenangarse

sevenhills said:

mi-key said

 Hopefully the government will be forced to take some action against the profiteering companies like Shell ! 

We used to have many energy companies and they competed on prices. We no longer have competition, just a price set by the government. The profits made by Shell, are mostly from outside of this country.
It's great to have multinational companies listed on the London stock exchange and paying UK taxes.

Less than 5% of Shell’s profits originate from the UK. I’m all for windfall taxes so long as they’re levied in a reasonable manner. If you try to screw Companies they’ll just go and base themselves outside the UK.