| Interest rates up to 3% 12:03 - Nov 3 with 5117 views | Keno |
BREAKING
Interest rate rises to 3%
As anticipated, the Bank of England has raised interest rates by 0.75 percentage points to 3%.
It is the biggest single rise in the cost of borrowing since 1989. |  |
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| Interest rates up to 3% on 14:24 - Nov 3 with 1852 views | Father_Jack |
Yes but thankfully we've taken back control. |  |
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| Interest rates up to 3% on 14:28 - Nov 3 with 1838 views | Darth_Koont |
| Interest rates up to 3% on 14:24 - Nov 3 by Father_Jack |
Yes but thankfully we've taken back control. |
Yep. So much control that we just don’t have anywhere to put it. |  |
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| Interest rates up to 3% on 14:34 - Nov 3 with 1813 views | Keno |
| Interest rates up to 3% on 14:28 - Nov 3 by Darth_Koont |
Yep. So much control that we just don’t have anywhere to put it. |
I can think of a few places Id shove it up! | |
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| Interest rates up to 3% on 14:49 - Nov 3 with 1802 views | ronnyd |
| Interest rates up to 3% on 13:26 - Nov 3 by WD19 |
Exactly as predicted, but the BBC will still go big on the shock.
Yesterday we learned that making a cup of tea is now more expensive than a year ago.
Mince pie armageddon next month. [Post edited 3 Nov 2022 16:46]
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Strange that, went into Sainsbury for my usual tea bags and they were 25p a box cheaper than last time.
As for interest rates, i was paying over 15% on my mortgage in the 80/90s. Admittedly, the totals back then were far lower. |  | | |
| Interest rates up to 3% on 14:49 - Nov 3 with 1802 views | Pinewoodblue |
Not sure BoE had any choice after US increased their rate by 0.75% for the second month running.
They are exporting inflation and misery. |  |
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| Interest rates up to 3% on 14:54 - Nov 3 with 1788 views | WeWereZombies |
| Interest rates up to 3% on 14:49 - Nov 3 by ronnyd |
Strange that, went into Sainsbury for my usual tea bags and they were 25p a box cheaper than last time.
As for interest rates, i was paying over 15% on my mortgage in the 80/90s. Admittedly, the totals back then were far lower. |
Oh rats, I thought you were going to say they had a special offer on mice pies. |  |
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| Interest rates up to 3% on 14:58 - Nov 3 with 1786 views | PassionNotAnger |
| Interest rates up to 3% on 14:07 - Nov 3 by giant_stow |
Honestly, it actually disgusts me.
Even the very young are getting it now: schools are looking at 4 day weeks (a mate in the DoE says some might even have to shut), services decimated just when the child pandemic sufferers need it most and all with catastrophic climate change on the near horizon. Its a shame on us all. [Post edited 3 Nov 2022 14:08]
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Whilst I don’t disagree with your angst at the situation I’m not sure what you mean by “shame on us all”?
This is a situation caused in part by a war, a pandemic and government incompetence for years. As someone that didn’t vote for the Tory government in power for 12 years, what exactly is it you feel I (or someone like me) should feel shame for in respect of the current economic situation and consequently suffering? | | | |
| Interest rates up to 3% on 15:05 - Nov 3 with 1758 views | Keno |
| Interest rates up to 3% on 14:54 - Nov 3 by WeWereZombies |
Oh rats, I thought you were going to say they had a special offer on mice pies. |
if that was the case you'd get money odd gerbill | |
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| Interest rates up to 3% on 15:11 - Nov 3 with 1731 views | WeWereZombies |
| Interest rates up to 3% on 15:05 - Nov 3 by Keno |
if that was the case you'd get money odd gerbill |
To be tempted though it would have to be at least a guinea, pig out then... | |
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| Interest rates up to 3% on 16:27 - Nov 3 with 1668 views | giant_stow |
| Interest rates up to 3% on 14:58 - Nov 3 by PassionNotAnger |
Whilst I don’t disagree with your angst at the situation I’m not sure what you mean by “shame on us all”?
This is a situation caused in part by a war, a pandemic and government incompetence for years. As someone that didn’t vote for the Tory government in power for 12 years, what exactly is it you feel I (or someone like me) should feel shame for in respect of the current economic situation and consequently suffering? |
Its a fair question, but I feel that its too easy to just blame Tory voters for this. Yes you (by the sounds of it) or me didn't vote for any of this recent stuff happening to kids, but its still happening on our watch. Even more so for the way young adults are screwed - that's been happening for much longer than the Tory party's 12 year run. |  |
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| Interest rates up to 3% on 16:33 - Nov 3 with 1661 views | hype313 |
| Interest rates up to 3% on 14:49 - Nov 3 by ronnyd |
Strange that, went into Sainsbury for my usual tea bags and they were 25p a box cheaper than last time.
As for interest rates, i was paying over 15% on my mortgage in the 80/90s. Admittedly, the totals back then were far lower. |
How long were interest rates at 15% for? |  |
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| Interest rates up to 3% on 16:52 - Nov 3 with 1635 views | ronnyd |
| Interest rates up to 3% on 16:33 - Nov 3 by hype313 |
How long were interest rates at 15% for? |
They were up to 16.63% in 1981 and went back to around 10% by the end of the 80s.
Back up to 13% in the early 90s too.
I'm talking mortgage rates here, not interest base rates. [Post edited 3 Nov 2022 17:03]
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| Interest rates up to 3% on 16:54 - Nov 3 with 1631 views | HARRY10 |
| Interest rates up to 3% on 12:28 - Nov 3 by J2BLUE |
That's if people renting can save a deposit. No doubt the less ethical landlords will pass on every penny of the rise to their tenants, probably even if they are on fixed rates. |
err no
Rents are a commodity as are others. And are subject to much the same rules. Rents will only get what the market will bare.
At every change in legislation that made landlords actually provide a better service the squeak went up from these parasites that they would raise rents to cover their increased cost. None of which happened.
As, if they were able to raise rents as they wished they would have done so before. There is the no small matter of many tenants being on Housing Benefit/Universal Credit whereby the ceiling on rents will stop landlords increasing rents. Every landlord will be aware of what that ceiling is and have fixed the rent at that level already. | | | |
| Interest rates up to 3% on 16:55 - Nov 3 with 1628 views | PassionNotAnger |
| Interest rates up to 3% on 16:27 - Nov 3 by giant_stow |
Its a fair question, but I feel that its too easy to just blame Tory voters for this. Yes you (by the sounds of it) or me didn't vote for any of this recent stuff happening to kids, but its still happening on our watch. Even more so for the way young adults are screwed - that's been happening for much longer than the Tory party's 12 year run. |
But those that have voted in Conservative MPs for the last 12 years have directly contributed to the situation we are in and likely to suffer for the years to follow.
What specifically do you think I should be ashamed of? Im just curious why you feel it’s the general population that’s the problem and not the decision makers!? | | | |
| Interest rates up to 3% on 20:22 - Nov 3 with 1536 views | factual_blue |
| Interest rates up to 3% on 14:10 - Nov 3 by Keno |
so you arent concerned by the paradox of thrift then? |
Wasn't the Paradox of Thrift the follow-up single to Sultans of Swing? |  |
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| Interest rates up to 3% on 21:03 - Nov 3 with 1495 views | Swansea_Blue |
| Interest rates up to 3% on 13:25 - Nov 3 by tractordownsouth |
Normally a house price fall would be good but given so many people have had to take on extra debt to even get on the housing ladder in the first place, there will be a lot of pain. Until 2nd homes and buy-to-lets are severely restricted, the housing issue won't improve regardless of what rates are. |
A house price fall will never be a good thing, for exactly the reasons you say. There are always people who’ve taken on debt and can be hammered by negative equity (the 80s crash is still raw for me, albeit my parent bore the brunt of that and not me directly). |  |
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| Interest rates up to 3% on 21:19 - Nov 3 with 1471 views | BanksterDebtSlave |
| Interest rates up to 3% on 21:03 - Nov 3 by Swansea_Blue |
A house price fall will never be a good thing, for exactly the reasons you say. There are always people who’ve taken on debt and can be hammered by negative equity (the 80s crash is still raw for me, albeit my parent bore the brunt of that and not me directly). |
Are you suggesting that ridiculous property prices at crazy multiples of earnings should only ever go up fed by ever increasing levels of debt? |  |
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| Interest rates up to 3% on 23:27 - Nov 3 with 1387 views | Nthsuffolkblue |
| Interest rates up to 3% on 14:49 - Nov 3 by ronnyd |
Strange that, went into Sainsbury for my usual tea bags and they were 25p a box cheaper than last time.
As for interest rates, i was paying over 15% on my mortgage in the 80/90s. Admittedly, the totals back then were far lower. |
It's a good job you aren't going to need any boiling water to make your tea from them and won't want any milk or sugar. You won't need any hot water nor washing up liquid to clean your drinking utensil afterwards either?
Was it a special offer, a smaller pack or have they made the teabags smaller by any chance? You do realise that prices are going up long term even if they might fluctuate within that overall trend? I would imagine the cost of the tea itself is a small proportion of the actual cost of a cup of tea. |  |
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| Interest rates up to 3% on 07:33 - Nov 4 with 1299 views | tractordownsouth |
| Interest rates up to 3% on 13:31 - Nov 3 by hype313 |
Or we build more houses, which is what people have been saying for years, but the Tories have their finger in their ears on this as it's good for them to have a housing bubble. |
Well yeah, this is the ideal scenario. NIMBYism is getting ridiculous now; mostly selfish people who want their houses to keep earning more in a year than the average worker. |  |
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| Interest rates up to 3% on 07:35 - Nov 4 with 1296 views | tractordownsouth |
| Interest rates up to 3% on 13:40 - Nov 3 by Darth_Koont |
How do millions of people save when there’s been wage stagnation for years even before the current cost of living spike?
How do young people and other non-home owners save when the vast majority are being utterly rinsed by the cost of private renting?
How do home owners save when their already grossly inflated mortgages are now even more expensive?
And how is a country that is forcing tens of millions to really draw in the purse strings going to get its economy working better when it was struggling even in “normal” times? |
100% agree but accidentally downvoted, apologies. | |
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| Interest rates up to 3% on 08:57 - Nov 4 with 1245 views | Darth_Koont |
| Interest rates up to 3% on 07:35 - Nov 4 by tractordownsouth |
100% agree but accidentally downvoted, apologies. |
No need to apologise but thanks.
Anyway, I know you’ve been banging on about similar stuff too. | |
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| Interest rates up to 3% on 09:45 - Nov 4 with 1197 views | giant_stow |
| Interest rates up to 3% on 16:55 - Nov 3 by PassionNotAnger |
But those that have voted in Conservative MPs for the last 12 years have directly contributed to the situation we are in and likely to suffer for the years to follow.
What specifically do you think I should be ashamed of? Im just curious why you feel it’s the general population that’s the problem and not the decision makers!? |
Hi mr, I just think we all have a certain amount of collective responsibility for what happens really. Even someone firmly on the left with seemingly clean hands has failed to win the argument with the right for the past 12 years, or at least enough to sway things for the better. Maybe a harsh way of looking at things! | |
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| Interest rates up to 3% on 09:56 - Nov 4 with 1188 views | Darth_Koont |
| Interest rates up to 3% on 09:45 - Nov 4 by giant_stow |
Hi mr, I just think we all have a certain amount of collective responsibility for what happens really. Even someone firmly on the left with seemingly clean hands has failed to win the argument with the right for the past 12 years, or at least enough to sway things for the better. Maybe a harsh way of looking at things! |
That implies there’s a public debate.
Probably the main thing that characterises our politics and political coverage over the years is how we don’t address underlying socio-economic issues. In fact, the debate seems purposefully skewed away from that into other stuff.
Of course, that means we lurch fairly cluelessly from one real-world effect to the next, invariably in decline. | |
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| Interest rates up to 3% on 10:24 - Nov 4 with 1152 views | giant_stow |
| Interest rates up to 3% on 09:56 - Nov 4 by Darth_Koont |
That implies there’s a public debate.
Probably the main thing that characterises our politics and political coverage over the years is how we don’t address underlying socio-economic issues. In fact, the debate seems purposefully skewed away from that into other stuff.
Of course, that means we lurch fairly cluelessly from one real-world effect to the next, invariably in decline. |
Can't argue with that. | |
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| Interest rates up to 3% on 11:36 - Nov 4 with 1119 views | tractordownsouth |
| Interest rates up to 3% on 21:03 - Nov 3 by Swansea_Blue |
A house price fall will never be a good thing, for exactly the reasons you say. There are always people who’ve taken on debt and can be hammered by negative equity (the 80s crash is still raw for me, albeit my parent bore the brunt of that and not me directly). |
I meant good for people not on the housing ladder but as you say people who have recently bought or have taken on a lot of debt (not through fault of their own because that’s the only way most people can do it now) it’s a disaster.
Needs the combination of 2nd home restrictions and mass housebuilding. | |
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