Business UK
Interest rates: Liam Halligan explains ‘people know in their bones we are NOT through the bad stuff’
GB News Economics and Business Editor, Liam Halligan, explains The Bank of England expected to hold the base interest rate at 5.25%.
#interest #bankofengland #economy #finance
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Nana Akua | Saturday 1st August
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@gawain8000
January 1, 2024 at 5:18 am
Good vid
@maguirefire3190
January 1, 2024 at 5:18 am
U.s economic data is consistently hitting over whats predicted…. the uk and Europe is not… hench higher rates in the U.S… if bank of england or european central bank dares to lower rates the pound or euro will devalue which means more inflation later on…… this game of 3D chess is not over yet… oil gas market increase would put the uk and europe back 1 year if these issues rise… if anybody can be bothered to do basic research, these are all political tradde off fsor decisions made in the long mid and short term..and noone in europe is doing anything to alleviate these risks
@SuperCatbert
January 1, 2024 at 5:18 am
Liam the US are generating catastrophic amounts of debt
@andrewfallon2719
January 1, 2024 at 5:18 am
Liam talks like the cpi figures are remotely accurate. He says the cost of living crisis is easing, but only if you believe the cpi, which is a blatant lie
@paultweedley2026
January 1, 2024 at 5:18 am
Yea core inflation may be 6.7% but food inflation is still around 12% 😑
@JeffSBoro
January 1, 2024 at 5:18 am
Funny to tune into people still talking as if any of this is logical or a general election is relevant.
We are heading for one hell of a fall.
@michaelkelly9545
January 1, 2024 at 5:18 am
Brexit was a smashing idea
@sandyfoot
January 1, 2024 at 5:18 am
Now show the interests rates over the last 90 years and it will show they still need to increase.
@351yt
January 1, 2024 at 5:18 am
Bollocks. Oh blimey vee British is going to print money like Weimar Germany.
@jacobfield4848
January 1, 2024 at 5:18 am
Energy prices are way too high, unemployment is going up because of this. Energy prices have ruined the whole country.
@dogmadogma5398
January 1, 2024 at 5:18 am
WHY weren't NUCLEAR PLANTS made 20 years ago or more ?? ENERGY INDEPENDENCE FFS !!
@nicholaspostlethwaite9554
January 1, 2024 at 5:18 am
We have far too low rates.
With main stream media lying that rates are high, and using biased chosen statistics over only grossly abnormal post banking crisis as reference. Rates should go up whole percents at a time the daftness of your commentator talking of the 'number of steps' is caused by the derisory abnormal quarter precents at a time.
Rates must normalise. That is several percent ABOVE inflation at all times. So if inflation is down to the corrupt target of 2% compounding every year, then rates should be 4-5%
Now they should be higher than the inflation rate too!
Yes a recession would be good for the UK. Shaking out trivial and poor business, pushing down house prices and wages. Almost no one noticed a recession, just like they do not notice a supposed growth either. It is just a bogey man word the media throw about.
@user-vs9nl4pc4n
January 1, 2024 at 5:18 am
He got the same hair as Jack Grealish
@user-lp5vk8sn3k
January 1, 2024 at 5:18 am
Inflation rates are all lies it’s double that
@luliluli1471
January 1, 2024 at 5:18 am
The economy is contracting because people don't have money to spend. People don't have money to spend because the government is spending their money instead. Government spending causes inflation to increase. When inflation goes up the BofE raises the interest rates. Higher rates also contributes to less money in people's pockets. How can this be fixed? Simple. Get the government (professional politicians and bureocrats) out of the cycle and the prosperity shall become a reality. 😊
@guyedwards5451
January 1, 2024 at 5:18 am
It's all noise. They've got no option but to return to QE and the inevitable increase in inflation, because QE is inflation. People's only option is to own assets that appreciate faster than the monetary inflation and currency debasement. Basically technology and crypto because of the exponential growth.
@haycockjeff
January 1, 2024 at 5:18 am
If only we had fracking and more nuclear power stations.
Instead we have Chinese solar panels in Scotland and wind turbines.
Welcome to clown world.
@haycockjeff
January 1, 2024 at 5:18 am
BoE should not be independent. They are captured by a certain economic philosophy.
@haycockjeff
January 1, 2024 at 5:18 am
Cheap energy fuels a competitive economy and reduces domestic inflation.
Instead we have green socialism by Tory nutjobs. Ready to hand over the same policies to Labour.
Sad.
@chrisgrahma5064
January 1, 2024 at 5:18 am
The Financial Conduct Authority is too busy engaging in WOKE
@contemplating1015
January 1, 2024 at 5:18 am
The US is the world reserve currency and their inflation and employment "numbers" are fiddled. Credit card borrowings in the US are at all time highs as well…
The debt monster will rise in 2024 and hit people and certain budinesses even harder.
Central Banks will have to print again to save the global economy from collapsing subsequently feeding the inflation monster even more. Short respite from inflation yes but it'll then continue to rise for the rest of the decade.
@joanneburslem4330
January 1, 2024 at 5:18 am
Self employed for thirty years
Never been so bad
Small business are going bump daily, hear it from suppliers
Large business panicking
Reps laid off
but that was the plan all along,
Crash economy..bring in cbdc
@royalalloy3471
January 1, 2024 at 5:18 am
Low intrest rates are the problem. Keeping people in constant debt. The base rate should be double figures.
They don't want you to save just constantly borrow.
@stephenfaulder1747
January 1, 2024 at 5:18 am
I repeat the question I have been asking for over a year:
. . . Why is there this continued, resigned acceptance that the raising of interest rates can have any meaningful impact on inflation, when the cause of the inflation is the 'Putin-induced' restriction in the supply of 'essential' food and fuel?
People have no choice but to spend on these 'essential' resources, so no level of interest rate rise will significantly reduce spending on these.
The pressures of the massively increased food and fuel prices on people's finances has left many with little or no money to spend on 'non-essentials' (luxuries) – ie the things that bring joy and pleasure to people's lives!
So, with consumers already having significantly less to spend on 'luxuries', courtesy of Vladimir Putin, the prices of such products were always going to fall as stock reserves simply gather dust in warehouses . . . just look around at the increasing number of sales, as businesses try desperately to revitalise their cashflows!
After Putin's invasion triggered inflation on key essentials (food and fuel), the last thing we needed was the added insult of misguided BoE interest rate rises, which the Ladybird Book of Economics could tell you can never work on this type of inflation.
Raising interest rates, in this climate, has had and can have only this effect:
. . . Namely, killing businesses, (therefore) killing competition and choice, stressing/killing people and breaking up relationships and families . . . effectively stealing money from hard-working people . . . and all so the Bank of England can (oh-so-wrongly) take the credit for getting inflation down.
Futile monetary policy . . . at what cost!!
So please stop pandering to the moronic buffoons on the MPC and start applying some original thinking, so they have nowhere to hide from these damagingly high interest rates.
They need to be dropped to ~2%, without delay!
@haydnlawrence8167
January 1, 2024 at 5:18 am
All 3 struggling to keep a straight face with all that BS flying around.
@notrut
January 1, 2024 at 5:18 am
We Brits have had the Tax jacked up so that unelected Sunak could bequeath £7,300,000,000 to the UN for Ukraine.
We're always the CashCow for every Global conflict Bill.
@hholton7245
January 1, 2024 at 5:18 am
Government is the problem.
@windowman929
January 1, 2024 at 5:18 am
A least we got Brexit done 😂
@fubar.1
January 1, 2024 at 5:18 am
The construction, and building industry is dead that's tells you everything, building merchants are dead as well, no one is spending apart from the bankers and suits.
@williammclean3870
January 1, 2024 at 5:18 am
Liam, I agree that savers should have been getting a better return on their savings, but this isn't happening because banks like Nat West haven't been passing the interest savings onto customers. Where as some have provided better returns. The financial watchdogs should have been making sure that savers are looked after just as non savers should.
@kay2kin92
January 1, 2024 at 5:18 am
Liam go home, get an early night, you look unwell!
@ap3460
January 1, 2024 at 5:18 am
Bankrupt Britain 🇬🇧 just look at local councils! We are past recession we are in a depression.
@andrewloizou9803
January 1, 2024 at 5:18 am
Bitcoin is the answer.
@alangordon3283
January 1, 2024 at 5:18 am
Inflation is 6.7 on top of the 11.7 it was last year . It’s not getting any better but muppets are thinking because it’s a lesser or lower number then that ok it’s all fine and dandy.
It’s all bollocks
@user-rl9tg8mz2r
January 1, 2024 at 5:18 am
The USA are borrowing 2 trillion in 1 year
@sillypuppy5940
January 1, 2024 at 5:18 am
The Eurozone is heading downhill right now – lower inflation, but with economic contraction (nothing unexpected there). So I suspect higher UK interest rate rises won't be necessary to bring down UK inflation. But that could all go wrong if things really kick off in the Middle East.
@Loundsify
January 1, 2024 at 5:18 am
5% is the normal 100 year average. I can't see them going past 6% at most. Especially now inflation is down to around 6.5%.
I think the Bank is waiting to see if inflation comes down again. If it doesnt or increases they may need to rise. But looks to me the UK is heading for a recession along with the rest of the Western world.
@lawLess-fs1qx
January 1, 2024 at 5:18 am
Halligan is great.
@MPH-iq5md
January 1, 2024 at 5:18 am
Big fan of Liam's insights but I do disagree that interest rates are high! What he didn't point out directly is that interest rates are still below the rate of inflation, so savers are still losing money!
Between 5 and 6% should be the target level of interest.