Business UK
Interest rates: ‘Bank of England need to start acknowledging mistakes’ | Liam Halligan
@LiamHalligan details the Bank of England’s decision to increase the base rate to 5.25% which is up for the 14th time in a row and the affect on mortgages.
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Watch as Will Kensington expresses concern about the state of the UK, arguing that Downing Street is no longer a place of power but has instead become Britain’s most expensive Airbnb.
This comes as Andy Burnham is set to become the UK’s seventh Prime Minister in a decade, with seemingly no one challenging the “King of the North” for the country’s top job.
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Cabinet Office DEMANDS LGBT and ethnic figures on bank notes over DIVERSITY – ‘RIDICULOUS!’
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‘We have real pressing financial issues as a country. I find focus on stuff like this quite ridiculous!’
Nana Akua hits out at the Cabinet Office’s suggestion that banknotes should featurre prominent ethnic or LGBT figures from British history.
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France holds annual Bastille Day parade with different military regiments with foreign troops included. President Emmanuel Macron has invited leaders from The Coalition of The Willing to watch parade.
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‘You have the five permanent members on the security council that can veto, so anything that is done, Russia will veto it.’
Foreign affairs analyst James Marlow discusses the UN’s powers and limitations.
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@gaztambo139
January 6, 2024 at 6:08 pm
If the purpose of increasing interest rates is to take money out of the economy to curb inflation. How does giving savers extra monthly disposable income, cool the economy ? It seems to me it’s more about wealth redistribution than taking money out of the economy.
@contemplating1015
January 6, 2024 at 6:08 pm
Andrew Bailey is a wash with hubris, they will never acknowledge their mismanagement because it seems they follow an agenda which all central banks are pursuing.
@janoginski5557
January 6, 2024 at 6:08 pm
Inflation is not and has not been transitionary. It has been with “us”, the UK for a very long time. Many decades, go back to the beginning of the 60’s and take a look at what a pound Sterling would buy. Staggering fall in the value since then, Continually printing worthless paper, (now bloody awful plastic) guarantee you are on the way to ruin.
The commentator mentions the central bank handing money to the banks, but what he isn’t mentioning is the quantity, if people knew there would be civil unrest.
“Quantitive easing” yet another euphemism designed to disguise the truth. It was pretty obvious that the policy of handing out huge quantities of cash would have severe repercussions. The collection of clowns 🤡, aided & abetted by a shower of exaggerated scaremongering and a shower of so called experts & with the connivance of the propaganda machine and ignorant politicians created this abysmal scenario all by themselves, What a fck up. These people are cretans and the media, by and large are not entirely honest, even GB news. It’s all smoke and mirrors.
@bennyboywatts
January 6, 2024 at 6:08 pm
Mark Carney has a lot to answer for, for not raising rates ten years ago.
@Paul-li9hq
January 6, 2024 at 6:08 pm
I'm not even buying the Inflation rates they're quoting anyway…
I simply have to look at the prices of things that I'm buying regularly:
Bag of crisps… up 25%
Tin of soup… up 20%
Pack of Bratwurst… up 45%
I could go on and on…
I know Tesla has slashed the prices of its Model 3 saloon and Model Y SUV for 2023, with savings of almost £8,000 available on some versions… So I suppose if you wanted to spin the inflation figures, you have only got to include ridiculous items like that, which mere mortals like me are going to buy… and bingo… inflation looks lower 😂
@benhopwood5321
January 6, 2024 at 6:08 pm
The majority of the money given out during the pandemic was fraud/corruption anyway, why hasn't the government STILL NOT clawed back the money that they promised to do?
@maxthemagition
January 6, 2024 at 6:08 pm
The UK is awash with Debt created over the last 14 years by ZERO Interest Rates, effectively Free Money handed out by the BOE to the Banks.
Printed Money and IOUs to prevent a recession and keep the Markets and Property Prices at record levels.
This of course has kept the City and the S.E. Enriched.
Brexit Britain is now poorer except for the City of London which is booming by all accounts.
OK so far for the ten million people living in the S.E., but ask yourself, what about the other 50million living in the rest of the UK?
Where is the Industry and Productivity today to support them?
Money it seem does grow on trees for some in the S.E., but what about the others?
Is Britain broke?
Can Britain pay it’s way in the Modern World?
Relying on the Financials in London will prove a massive mistake because they can easily hop over to the USA.
It is plain to see that Brexit Britain is totally reliant on the CITY today.
INFLATION is here to stay, no matter what the BOE does.
Debt + High Interest Rates + Inflation + Printing Money and IOUs is the sign of a failed economy.
@ahgversluis
January 6, 2024 at 6:08 pm
I love the part about admitting specific mistakes. So when are they going to admit that Brexit was a colossal one?
@alm5966
January 6, 2024 at 6:08 pm
When i took my mortgage out it was 5.75%. I didn't moan, i just cut my cloth accordingly and got on with it. If anyone took out a mortgage and didn't factor in rate rises then there's no one else to blame.
@michaelburnhill123
January 6, 2024 at 6:08 pm
A perfect example why the world should never have a one world government. If central banks had acted independently and according to their own economy we wouldn't be in this mess! As a country we should be cutting VAT which would cut the cost of living allowing people to pay their bills whilst cutting inflation as it would lower the cost of living whilst helping to support the economy! This is the sort of out of the box thinking we need to see to get our country back to growth!
@iantobanter9546
January 6, 2024 at 6:08 pm
Similar to the council tax misery we suffer every year under Liebour in Wales.
@cp070476
January 6, 2024 at 6:08 pm
£883 a month on a £135k mortgage… Wow..
@the1beard
January 6, 2024 at 6:08 pm
they were late and then made up for it ,, not they appear to want a global depression .. maybe to save the planet ?
yes they may be than crazy
@bengun1
January 6, 2024 at 6:08 pm
Oil and gas prices have collapsed back to pre-pandemic levels. High energy costs now are pure profiteering…….
@bengun1
January 6, 2024 at 6:08 pm
Banks are blood sucking vampires and care not a jot about you and yours. Despite the cuddly adverts on tv. …..
@grahamjackson6589
January 6, 2024 at 6:08 pm
Liz Truss said..
Do you miss me yet😏
@grahamjackson6589
January 6, 2024 at 6:08 pm
I've told you many times. BOE and their Remain friends want UK back in single market liam.
@patmartin9727
January 6, 2024 at 6:08 pm
Dropping the interest rates to such a low rate and keeping it there encouraged people to spend and over stretch themselves.paying 6% interest on your mortgage is a more normal. We now have a generation of people who have got use to living the high life going off on all inclusive holidays 2 or3 times a year, changing there expensive cars every time a new model comes out. Living far beyond their means because credit was cheep. These are the people who are moaning about how hard up they are and how the government should be helping them and how their employers should be giving then big pay rises.
The ones I feel sorry for are the children who have been brought up to expect everything and the pensioners who have been squeezer every which way as their retirement income was hit by the unreasonable low interest rates paid to savers.
Things have gone up with inflation and price rises for everyone but you just have to change your ways and cut back on luxuries to live within your means.
@gerhard7323
January 6, 2024 at 6:08 pm
Liam Halligan is a sincere trustworthy individual amongst a den of thieves.
@u2kjib4cjkqn
January 6, 2024 at 6:08 pm
It’s all going to plan
@davidpenney2334
January 6, 2024 at 6:08 pm
Thats what you get when a bell end is in charge….
@1aatlas
January 6, 2024 at 6:08 pm
Its about time we realised that giving the Bank of England the sole licence to counterfeit currency and charge us interest for the privilege is the mistake….
WE all know the rich protect the rich… what did you think handing them the power to print money does for them?
@amfearliathmor9747
January 6, 2024 at 6:08 pm
With the UK Government borrowing at 1/4 £Trillion per annum at every increasing bond yields with an inverted yield curve, it is completely unsustainable even in the short term.
Sovereign Debt Crisis with the newly formed Labour Party Government? The UK Holodomor could be over within a matter of months. Most folks don't even own a working torch with batteries or even held a gold coin.
@JustMeTalking
January 6, 2024 at 6:08 pm
Pensions Collapse next…
@bye-72
January 6, 2024 at 6:08 pm
Bank of England predictions are always wrong.
So everything is going to be ok 😂
@nickryder9669
January 6, 2024 at 6:08 pm
Gosh the highest tax for Paye in 70 years the highest inflation in over 30 years ! The largest drop in living standards in 200 years the highest interest rate in 15 years ! And a stupid pm that says lowering inflation will put more money in your pocket ? How was he ever Chancellor when he says things like that ?