| Oil! BoE! That's enough! 12:26 - Jun 20 with 5299 views | GavTWTD |
You've got your 2% inflation, some us have mortgage renewals imminent. |  |
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| Oil! BoE! That's enough! on 12:31 - Jun 20 with 4012 views | Help |
Not in the top 1% then eh Gav. Mortgages are for poor people. Save the hassle just buy the house outright. |  |
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| Oil! BoE! That's enough! on 12:32 - Jun 20 with 3998 views | lowhouseblue |
"Annual growth in regular earnings (excluding bonuses) was 6.0%, the same as for the previous three-month period; and annual growth in employees’ average total earnings (including bonuses) was 5.9%, the same as for the previous three-month period. " that's why interest rates have been held. |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 12:36 - Jun 20 with 3928 views | Help |
| Oil! BoE! That's enough! on 12:32 - Jun 20 by lowhouseblue |
"Annual growth in regular earnings (excluding bonuses) was 6.0%, the same as for the previous three-month period; and annual growth in employees’ average total earnings (including bonuses) was 5.9%, the same as for the previous three-month period. " that's why interest rates have been held. |
Always knew I was below average | |
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| Oil! BoE! That's enough! on 12:38 - Jun 20 with 3911 views | _clive_baker_ |
Inflation is forecast to go back up again a bit though innit.
I do think the BoE could've tickled a little 0.25% decrease through though, the sentiment alone would be a nice little shot in the arm for the economy and I like round numbers. May explain why I'm not an economist.
Anyone waiting for rates to come down remotely meaningfully is going to be waiting a while though, I can't see the base rate south of 4.5% any time soon. |  | | |
| Oil! BoE! That's enough! on 12:38 - Jun 20 with 3912 views | GavTWTD |
| Oil! BoE! That's enough! on 12:32 - Jun 20 by lowhouseblue |
"Annual growth in regular earnings (excluding bonuses) was 6.0%, the same as for the previous three-month period; and annual growth in employees’ average total earnings (including bonuses) was 5.9%, the same as for the previous three-month period. " that's why interest rates have been held. |
Not everyone's pay has gone up, so that's useful. | |
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| Oil! BoE! That's enough! on 12:38 - Jun 20 with 3911 views | Herbivore |
| Oil! BoE! That's enough! on 12:32 - Jun 20 by lowhouseblue |
"Annual growth in regular earnings (excluding bonuses) was 6.0%, the same as for the previous three-month period; and annual growth in employees’ average total earnings (including bonuses) was 5.9%, the same as for the previous three-month period. " that's why interest rates have been held. |
Heaven forbid people's wages should go up to partially compensate for 2 years of ridiculously high inflation. Let them eat gruel. |  |
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| Oil! BoE! That's enough! on 12:40 - Jun 20 with 3886 views | Swansea_Blue |
Given how lenders were quick to put their rates up, I'm sure they'll respond just as quickly to lower them. Any day now....
I had my renewal through the other week. £500 per month extra. Best I've found on the shortest 2 year fixed (hoping they will come over that time) is going to cost us £268/mth extra = £3,216/yr.
Thanks Liz!
(#Don'tVoteTory) |  |
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| Oil! BoE! That's enough! on 12:53 - Jun 20 with 3775 views | lowhouseblue |
| Oil! BoE! That's enough! on 12:38 - Jun 20 by Herbivore |
Heaven forbid people's wages should go up to partially compensate for 2 years of ridiculously high inflation. Let them eat gruel. |
if in setting interest rates your objective is to control future inflation, and high current wage rises are indeed an indicator of future inflation, then that explains the b of e decision. which is why i posted it.
but if, as it was, the trigger for inflation was a rise in imported energy prices then that does mean we are poorer - what we produce domestically buys less in total of what we want to consume (including imported energy). so at the end of the inflationary episode real wages will be lower than at the start. that is how import price shocks work. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 12:56 - Jun 20 with 3763 views | lowhouseblue |
| Oil! BoE! That's enough! on 12:38 - Jun 20 by GavTWTD |
Not everyone's pay has gone up, so that's useful. |
well quite - having been subject to public sector wage restraint for 15 years i know that to be true. hasn't phil awarded the promotion wage bonus yet? | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 12:56 - Jun 20 with 3753 views | Herbivore |
| Oil! BoE! That's enough! on 12:53 - Jun 20 by lowhouseblue |
if in setting interest rates your objective is to control future inflation, and high current wage rises are indeed an indicator of future inflation, then that explains the b of e decision. which is why i posted it.
but if, as it was, the trigger for inflation was a rise in imported energy prices then that does mean we are poorer - what we produce domestically buys less in total of what we want to consume (including imported energy). so at the end of the inflationary episode real wages will be lower than at the start. that is how import price shocks work. |
It's almost like 21st century capitalism doesn't meet the needs of most of the population. It destroys the climate, keeps people in absolute and relative poverty, enriches those who already have the most. Maybe we need a rethink. | |
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| Oil! BoE! That's enough! on 13:00 - Jun 20 with 3709 views | Swansea_Blue |
| Oil! BoE! That's enough! on 12:56 - Jun 20 by lowhouseblue |
well quite - having been subject to public sector wage restraint for 15 years i know that to be true. hasn't phil awarded the promotion wage bonus yet? |
Good point. Surely the promotion bonus will trickle down? That's how it's supposed to work innit. | |
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| Oil! BoE! That's enough! on 13:04 - Jun 20 with 3686 views | lowhouseblue |
| Oil! BoE! That's enough! on 12:56 - Jun 20 by Herbivore |
It's almost like 21st century capitalism doesn't meet the needs of most of the population. It destroys the climate, keeps people in absolute and relative poverty, enriches those who already have the most. Maybe we need a rethink. |
it's almost as if life comes with external constraints which you can't just wish away - if the stuff you import costs more that does make you poorer. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 13:24 - Jun 20 with 3576 views | Herbivore |
| Oil! BoE! That's enough! on 13:04 - Jun 20 by lowhouseblue |
it's almost as if life comes with external constraints which you can't just wish away - if the stuff you import costs more that does make you poorer. |
When people can be so easily crippled by large (primarily fossil fuel) companies profiteering from global events, perhaps it's time to question whether our economic system is really working for the majority of people. | |
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| Oil! BoE! That's enough! on 13:26 - Jun 20 with 3532 views | blueasfook |
| Oil! BoE! That's enough! on 12:38 - Jun 20 by GavTWTD |
Not everyone's pay has gone up, so that's useful. |
I got crap pay rises during the high inflation/cost of living period. I had to change jobs for 20k more to keep up. It's a hard life. |  |
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| Oil! BoE! That's enough! on 13:33 - Jun 20 with 3485 views | BloomBlue |
What I don't understand is 'experts' were already predicting they wouldn't reduce interest rates in the middle of a general election, why not?
The BofE was given control of interest rates to be independent of any govenment. Not reducing it now, would indicate the opposite, they aren't reducing it because of the GE and therefore they are factoring in political decisions. We've hit 2% inflation, and they should reduce interest rates - and this from someone of an age where higher rates is better for my savings. |  | | |
| Oil! BoE! That's enough! on 13:51 - Jun 20 with 3417 views | lowhouseblue |
| Oil! BoE! That's enough! on 13:24 - Jun 20 by Herbivore |
When people can be so easily crippled by large (primarily fossil fuel) companies profiteering from global events, perhaps it's time to question whether our economic system is really working for the majority of people. |
energy prices rose because accessible supply fell or was in the wrong place. the owners of non-russian oil and gas had a windfall gain as a result - but the price was still set in the market not at the whim of oil companies. a wind fall tax is a good response, but 'profiteering' when firms are selling into a competitive market is meaningless. you might as well blame all the other energy purchasers who were opportunistically prepared to pay more to grab the scarce supplies. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 13:54 - Jun 20 with 3389 views | FromReuserWithLove |
| Oil! BoE! That's enough! on 12:38 - Jun 20 by Herbivore |
Heaven forbid people's wages should go up to partially compensate for 2 years of ridiculously high inflation. Let them eat gruel. |
now rebranded as Huel |  | | |
| Oil! BoE! That's enough! on 13:55 - Jun 20 with 3383 views | Herbivore |
| Oil! BoE! That's enough! on 13:51 - Jun 20 by lowhouseblue |
energy prices rose because accessible supply fell or was in the wrong place. the owners of non-russian oil and gas had a windfall gain as a result - but the price was still set in the market not at the whim of oil companies. a wind fall tax is a good response, but 'profiteering' when firms are selling into a competitive market is meaningless. you might as well blame all the other energy purchasers who were opportunistically prepared to pay more to grab the scarce supplies. |
I blame the whole system. Oil and gas companies made insane profits in response to a war breaking out. When that can happen so easily and it can have such a massive negative impact on so many people, you have to wonder whether the system is really fit for purpose. Or maybe you don't and you keep blindly thinking everything is basically fine. | |
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| Oil! BoE! That's enough! on 14:07 - Jun 20 with 3312 views | lowhouseblue |
| Oil! BoE! That's enough! on 13:55 - Jun 20 by Herbivore |
I blame the whole system. Oil and gas companies made insane profits in response to a war breaking out. When that can happen so easily and it can have such a massive negative impact on so many people, you have to wonder whether the system is really fit for purpose. Or maybe you don't and you keep blindly thinking everything is basically fine. |
i think that prices of commodities fluctuate over time as demand and supply change and particularly in response to shocks on either side of the market. to keep it simple, the market in those circumstances is reflecting and articulating, but not initiating, uncertainty and instability in the real world. it would be nice if the real world was characterised by perfect stability and the absence of shocks - if only wishing could make it so. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Oil! BoE! That's enough! on 14:08 - Jun 20 with 3303 views | davblue |
| Oil! BoE! That's enough! on 12:40 - Jun 20 by Swansea_Blue |
Given how lenders were quick to put their rates up, I'm sure they'll respond just as quickly to lower them. Any day now....
I had my renewal through the other week. £500 per month extra. Best I've found on the shortest 2 year fixed (hoping they will come over that time) is going to cost us £268/mth extra = £3,216/yr.
Thanks Liz!
(#Don'tVoteTory) |
same on the £500 a month but but,but,but, but Labour are going to cost us £2000 extra over 4 years.
So embarrassing. |  | | |
| Oil! BoE! That's enough! on 14:17 - Jun 20 with 3250 views | Herbivore |
| Oil! BoE! That's enough! on 14:07 - Jun 20 by lowhouseblue |
i think that prices of commodities fluctuate over time as demand and supply change and particularly in response to shocks on either side of the market. to keep it simple, the market in those circumstances is reflecting and articulating, but not initiating, uncertainty and instability in the real world. it would be nice if the real world was characterised by perfect stability and the absence of shocks - if only wishing could make it so. |
Yeah, market instability and volatility is another thing that's sh!t about capitalism. | |
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| Oil! BoE! That's enough! on 14:19 - Jun 20 with 3223 views | mutters |
| Oil! BoE! That's enough! on 12:40 - Jun 20 by Swansea_Blue |
Given how lenders were quick to put their rates up, I'm sure they'll respond just as quickly to lower them. Any day now....
I had my renewal through the other week. £500 per month extra. Best I've found on the shortest 2 year fixed (hoping they will come over that time) is going to cost us £268/mth extra = £3,216/yr.
Thanks Liz!
(#Don'tVoteTory) |
Just out of curiosity what sort of interest rates are you being offered at the moment? |  |
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| Oil! BoE! That's enough! on 15:23 - Jun 20 with 3064 views | _clive_baker_ |
| Oil! BoE! That's enough! on 14:19 - Jun 20 by mutters |
Just out of curiosity what sort of interest rates are you being offered at the moment? |
4.26% with Natwest if you want to fix for 5 years (up to 60% LTV).
Looking at 4.7% - 4.8% if you want a 2 or 3 year fixed term though. | | | |
| Oil! BoE! That's enough! on 15:31 - Jun 20 with 3049 views | hype313 |
| Oil! BoE! That's enough! on 12:32 - Jun 20 by lowhouseblue |
"Annual growth in regular earnings (excluding bonuses) was 6.0%, the same as for the previous three-month period; and annual growth in employees’ average total earnings (including bonuses) was 5.9%, the same as for the previous three-month period. " that's why interest rates have been held. |
Forgive my cynicism but I think it's more to do with the politics of if and the optics of reducing during an election campaign.
I bet they drop a quarter of a percent next month. |  |
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| Oil! BoE! That's enough! on 16:23 - Jun 20 with 2963 views | OldFart71 |
My theory on this is that somehow it is linked with our interest repayments on loans. Perhaps it keeps the pounds value higher and consequently makes our repayments lower. Although it has been said that rates are staying high is because pub, restaurants and hairdressers keep putting their prices up, |  | | |
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