Cable Forum - View Single Post - Bank of England raises Interest Rate to 5%

Itshim · 26-06-2023, 18:50

The whole point ( not saying its correct) is too take money out of people's pockets, with less to spend the hope is that prices will fall ( supply and demand) the other side is increase saving rates ,to again take money out of the system. Don't forget there are more savers than mortgage holders.and with out them less mortgages, else they borrow more money from the wholesale market.

26-06-2023, 18:50	#28
Itshim Do I care what you think Join Date: Jul 2006 Location: Cardiff South Wales Age: 73 Services: V6 ,Virgin L. Phone Broadband.sky go Netflix Posts: 4,361	Re: Bank of England raises Interest Rate to 5% The whole point ( not saying its correct) is too take money out of people's pockets, with less to spend the hope is that prices will fall ( supply and demand) the other side is increase saving rates ,to again take money out of the system. Don't forget there are more savers than mortgage holders.and with out them less mortgages, else they borrow more money from the wholesale market. __________________ No point in being pessimistic. You know it won`t work.