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Are we expecting BOE to remain at 4.75% on 8th February 2025?
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Can spend £1000 on a holiday but not heat their rental property. I think they have their priorities wrong!!Ibits4321 said:I'm a landlord who served notice because my tenants said they turned the boiler off a year ago because they couldn't afford to heat the house and the house started getting mouldy. I felt bad, but if they couldn't afford to heat the house it meant they couldn't afford the house.
When I served notice they said they wished they had known I was going to do this because they'd just spent £1000 for a holiday and they wouldn't have if they knew they would need to move 💀2 -
Probably to busy maintaining the cannabis factory upstairs!themanfromportobello said:
Can spend £1000 on a holiday but not heat their rental property. I think they have their priorities wrong!!Ibits4321 said:I'm a landlord who served notice because my tenants said they turned the boiler off a year ago because they couldn't afford to heat the house and the house started getting mouldy. I felt bad, but if they couldn't afford to heat the house it meant they couldn't afford the house.
When I served notice they said they wished they had known I was going to do this because they'd just spent £1000 for a holiday and they wouldn't have if they knew they would need to move 💀0 -
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... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:0 -
PM and Chancellor, like the last time we hit this level.themanfromportobello said:
... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:0 -
Sarah1Mitty2 said:
PM and Chancellor, like the last time we hit this level.themanfromportobello said:
... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:
I'm not aware of any clause in UK legislation saying the PM and chancellor must resign if the average 5 year fixed mortgage rate hits 6%.
Truss and Kwarteng's actions (sweeping inflationary budget without OBR oversight) directly caused that spike. It was also clear that their resignations helped calm the markets. Hard to see how the current PM and chancellor have directly caused rates to be as they are now, or that their resignations would make things better
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So what has changed?Strummer22 said:Sarah1Mitty2 said:
PM and Chancellor, like the last time we hit this level.themanfromportobello said:
... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:
I'm not aware of any clause in UK legislation saying the PM and chancellor must resign if the average 5 year fixed mortgage rate hits 6%.
Truss and Kwarteng's actions (sweeping inflationary budget without OBR oversight) directly caused that spike. It was also clear that their resignations helped calm the markets. Hard to see how the current PM and chancellor have directly caused rates to be as they are now, or that their resignations would make things better0 -
The change is that the previous reason for hitting such interest rate heights was unfunded tax giveaways and an attempt to run public finances in a completely different way to every other established currency, and actively resisting any scrutiny of the plan.Sarah1Mitty2 said:
So what has changed?Strummer22 said:Sarah1Mitty2 said:
PM and Chancellor, like the last time we hit this level.themanfromportobello said:
... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:
I'm not aware of any clause in UK legislation saying the PM and chancellor must resign if the average 5 year fixed mortgage rate hits 6%.
Truss and Kwarteng's actions (sweeping inflationary budget without OBR oversight) directly caused that spike. It was also clear that their resignations helped calm the markets. Hard to see how the current PM and chancellor have directly caused rates to be as they are now, or that their resignations would make things better
Consequently the pound tanked and increasing interest rates was the only way to maintain value of sterling.
This time round, we have some independent opinions of our economic strategy, some forecasting, the pound is stabilised and other major economies have done similar things.
In the same way that the 2008 credit crunch wasn't Gordon Brown's fault, this wasn't Sunak's fault. Much like Brown, I expect the voters to punish him at the next general election.0 -
The spike in rates then was caused by a crisis in confidence in the leadership. The spike now is caused by a crisis in confidence in the economy (ok, it's more complicated than that, but still). Unfortunately we can't make this economy resign and get a new one.Sarah1Mitty2 said:
So what has changed?Strummer22 said:Sarah1Mitty2 said:
PM and Chancellor, like the last time we hit this level.themanfromportobello said:
... from who? BoE? Govt.? Banks? I'd very much doubt it from any!Sarah1Mitty2 said:
I'm not aware of any clause in UK legislation saying the PM and chancellor must resign if the average 5 year fixed mortgage rate hits 6%.
Truss and Kwarteng's actions (sweeping inflationary budget without OBR oversight) directly caused that spike. It was also clear that their resignations helped calm the markets. Hard to see how the current PM and chancellor have directly caused rates to be as they are now, or that their resignations would make things better0 -
Of course we will not, blindingly obvious that will not happen.Sarah1Mitty2 said:0
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