Inflation higher than expected yet again

pecunianonolet

Cash is losing money due to inflation that's true but investments only really work long term. Someone saving for a house deposit, new car or other larger purchases has no choice other than cash

coastline

US unemployment edging higher with todays figures . Another reason for FED to hold rates. Think they've got something on record saying 4% unemployment will be key level. 

United States Unemployment Rate (tradingeconomics.com)

Jobs report shows 150,000 new jobs in October. U.S. labor market cools. - MarketWatch

DavidAC

"If all savers do is keep their money in a savings account then that is their fault if they see sub optimal returns. Most people invest, put the money into pensions etc. where they see far better returns"

Not had much luck with investing. One pension up 13% in 5 years, 43% in 10 years, another pension similar. Both pensions diversified, medium risk with well known providers. Even worse when I invested in Vanguard LS60 and LS80 just before the war in Ukraine started, down around 5%. Over the last 10 years CPI is up 32% and RPI about 50%.

artyboy

hallmark said:

artyboy said:

Prism said:

DavidAC said:

Borrowing costs and savings below inflation shift money from those that have to those that don't. Never mind that many with savings have worked hard for it and many that overstretched on borrowing spent more than they could afford. Media always talks about hard pressed mortgage holders. Savers losing much of the life savings don't get a mention. To make it worse, over stretch and you might get some state benefits, have much in savings and it will get taxed to pay for it.

There are very few people that benefit from higher interest rates. Those in debt or with mortages don't. Those with wealth in investments, including ISAs and pensions, benefit when companies can borrow money cheaply to grow. The only people left are those who have a bit of cash to save but are not investing.

I'm one of those few people. But even so, I was able to resist the urge to create a thread where I could have the same old whinge once a month...

Strange then that despite being so high-minded you were unable to resist the urge to have a petty swipe at another poster for no reason.

I'm not concerned with savings interest rates and have never written a word to that effect.  I AM concerned about runaway inflation caused by loose monetary policy and so should everybody else be.

Petty... not at all, I've kept my peace on your somewhat single threaded posts on inflation and the BoE till now, but perhaps this could be considered a hint that it's time to change the record...

hallmark

artyboy said:

hallmark said:

artyboy said:

Prism said:

DavidAC said:

Borrowing costs and savings below inflation shift money from those that have to those that don't. Never mind that many with savings have worked hard for it and many that overstretched on borrowing spent more than they could afford. Media always talks about hard pressed mortgage holders. Savers losing much of the life savings don't get a mention. To make it worse, over stretch and you might get some state benefits, have much in savings and it will get taxed to pay for it.

There are very few people that benefit from higher interest rates. Those in debt or with mortages don't. Those with wealth in investments, including ISAs and pensions, benefit when companies can borrow money cheaply to grow. The only people left are those who have a bit of cash to save but are not investing.

I'm one of those few people. But even so, I was able to resist the urge to create a thread where I could have the same old whinge once a month...

Strange then that despite being so high-minded you were unable to resist the urge to have a petty swipe at another poster for no reason.

I'm not concerned with savings interest rates and have never written a word to that effect.  I AM concerned about runaway inflation caused by loose monetary policy and so should everybody else be.

Petty... not at all, I've kept my peace on your somewhat single threaded posts on inflation and the BoE till now, but perhaps this could be considered a hint that it's time to change the record...

"Changing the record" might be appropriate if I kept referring to some event that took place ages ago.  However I'm not. Every time they meet the MPC has the opportunity to properly tackle inflation and every time they meet they do as little as possible, frequently nothing at all. I think more people should be aware of the actions of Bailey and his cohorts and the damage they cause and I'm certainly not gonna apologize to you or anybody else if I post about it.

Obviously you could just choose to not read the thread.

Bobziz

This seems the key reason for leaving rates unchanged.

pecunianonolet

Bobziz said:

This seems the key reason for leaving rates unchanged.

It's good practise to cite the source and not just post graphs without any info of where they come from

Bobziz

pecunianonolet said:

Bobziz said:

This seems the key reason for leaving rates unchanged.

It's good practise to cite the source and not just post graphs without any info of where they come from

If you mean could I post the source please, here you go, Pg 89:

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.bankofengland.co.uk/-/media/boe/files/monetary-policy-report/2023/november/monetary-policy-report-november-2023.pdf&ved=2ahUKEwjPi434wKqCAxVtUEEAHWYJB20QFnoECCkQAQ&usg=AOvVaw1yQrFrxrLG1BNrp9wE45Lf

artyboy

hallmark said:

artyboy said:

hallmark said:

artyboy said:

Prism said:

DavidAC said:

Borrowing costs and savings below inflation shift money from those that have to those that don't. Never mind that many with savings have worked hard for it and many that overstretched on borrowing spent more than they could afford. Media always talks about hard pressed mortgage holders. Savers losing much of the life savings don't get a mention. To make it worse, over stretch and you might get some state benefits, have much in savings and it will get taxed to pay for it.

There are very few people that benefit from higher interest rates. Those in debt or with mortages don't. Those with wealth in investments, including ISAs and pensions, benefit when companies can borrow money cheaply to grow. The only people left are those who have a bit of cash to save but are not investing.

I'm one of those few people. But even so, I was able to resist the urge to create a thread where I could have the same old whinge once a month...

Strange then that despite being so high-minded you were unable to resist the urge to have a petty swipe at another poster for no reason.

I'm not concerned with savings interest rates and have never written a word to that effect.  I AM concerned about runaway inflation caused by loose monetary policy and so should everybody else be.

Petty... not at all, I've kept my peace on your somewhat single threaded posts on inflation and the BoE till now, but perhaps this could be considered a hint that it's time to change the record...

"Changing the record" might be appropriate if I kept referring to some event that took place ages ago.  However I'm not. Every time they meet the MPC has the opportunity to properly tackle inflation and every time they meet they do as little as possible, frequently nothing at all. I think more people should be aware of the actions of Bailey and his cohorts and the damage they cause and I'm certainly not gonna apologize to you or anybody else if I post about it.

Obviously you could just choose to not read the thread.

Ok, all the best with your crusade. I'm out.

Cus

Inflation down more than expected today.  Those fools at the BoE have raised interest rates too quickly 😁