Raising interest rates only works for dis-incentivizing people to buy goods they don't actually NEED. For example... higher interest rates slows down spending on homes, boats, vacations, expensive foreign goods, fashion clothing, etc... .
British people are just trying to cope with higher gas and electricity prices, rising food costs and just basic costs of living. This is not frivolous spending. All higher interest rates will do is drive people further into poverty.
I don'[t see it as "raising" interest rates. I see it as "normalising" interest rates from the current "temporary" "emergency" rates which have been in place for 10+ years.
It's either that or watch the pound value sink below the US dollar, which would suck. I've been waiting patiently for the USA to allow non-injected folk in but as things stand I could barely afford to go anyway with the dollar so expensive.When your base currency sinks so low it just feels like literally everything costs twice as much as it should do.
A raise in UK rates would not have too much impact apart from upon people who are too highly leveraged because they thought that was a smart idea.
:>) IT WON'T WORK.
Raising interest rates only works for dis-incentivizing people to buy goods they don't actually NEED. For example... higher interest rates slows down spending on homes, boats, vacations, expensive foreign goods, fashion clothing, etc... .
British people are just trying to cope with higher gas and electricity prices, rising food costs and just basic costs of living. This is not frivolous spending. All higher interest rates will do is drive people further into poverty.
I don'[t see it as "raising" interest rates. I see it as "normalising" interest rates from the current "temporary" "emergency" rates which have been in place for 10+ years.
It's either that or watch the pound value sink below the US dollar, which would suck. I've been waiting patiently for the USA to allow non-injected folk in but as things stand I could barely afford to go anyway with the dollar so expensive.When your base currency sinks so low it just feels like literally everything costs twice as much as it should do.
A raise in UK rates would not have too much impact apart from upon people who are too highly leveraged because they thought that was a smart idea.