11th Bank Of England interest rise in a row

Rates have been far too low for too long. We’re seeing the consequences now with inflation, job losses and low growth. Too many people and businesses mortgaged themselves to the hilt when loans were cheap and now need to cover the increases.
 
Rates have been far too low for too long. We’re seeing the consequences now with inflation, job losses and low growth. Too many people and businesses mortgaged themselves to the hilt when loans were cheap and now need to cover the increases.
But then the banks don't pass onto customers with savings the increased interest rates.

Which seems a tad cynical to me.
 
Rates have been far too low for too long. We’re seeing the consequences now with inflation, job losses and low growth. Too many people and businesses mortgaged themselves to the hilt when loans were cheap and now need to cover the increases.


Not sure low interest rates are resulting in increased inflation I think other factors have caused it. There is an argument as to whether they should have gone up sooner though.

Has quantitative easing had any effect on it I was always surprised inflation never took off after all the central banks printed loads of money about 15 years ago.
 
Rates have been far too low for too long. We’re seeing the consequences now with inflation, job losses and low growth. Too many people and businesses mortgaged themselves to the hilt when loans were cheap and now need to cover the increases.

I am not sure low interest rates have caused this at all.

Growth - The US are doing ok. I think Government policy is to blame here, one big one being Brexit.
Inflation? - Energy costs have been driving this.
Job losses? - We don't have a problem with unemployment.

Higher interest rates have done two big things: Made the cost of living crisis worse & put the banking sector in peril.

The only reason inflation is predicted to drop is the cost of energy reducing. The BoE have only put ours up to look like thy are doing something and to protect the pound against the dollar.
 
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