26 Comments

1. 

   @ncooper8438

   January 7, 2024 at 6:20 am

   Interest rates should never have been reduced to near zero, that's where the problem is!! It was a desperate move by the boe which failed to boost the uk economy and was done for idealogical and political reasons by Carney.

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2. 

   @colinraines395

   January 7, 2024 at 6:20 am

   Get rid of Sunak and Hunt AND DO IT NOW

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3. 

   @stephenfaulder1747

   January 7, 2024 at 6:20 am

   Does the Bank of England not distinguish between:

   (1) Inflation on essential products (eg fuel & food)
   . . . and . . .
   (2) Inflation on non-essential products?

   In the late 1980s, the economy was 'overheating', with many people earning vast sums of money and borrowing even more to buy 'everything in sight'.

   As people had a choice about buying such 'non-essential' products, the raising of interest rates did, in fact, discourage borrowing and spending.

   This, in turn, reduced the demand on the 'non-essential' products and prices fell, as a result.

   The current situation is very different!!

   The driver of the current inflation is higher prices of fuel and food (essential products).

   By definition, people have no choice but to pay the extra for these 'essential' products.

   Raising interest rates can, therefore, have no significant impact on spending on 'essential' products!

   It will only serve to take even more money out of people's pockets, leaving them with less to spend on non-essential products . . . the consequences of which will be:

   (1) Businesses based on non-essential products will have less trade, causing them to . . .
   (2) Require fewer staff, causing . . .
   (3) An increase in the unemployment rate, which will . . .
   (4) Reduce productivity and . . .
   (5) Increase the Government's benefits bill

   The cost of many non-essential items will come down, due to a lack of demand (people struggling to afford them due to their 'forced' higher spending on 'essential' food and fuel), compounding the above consequences.

   Surely, raising interest rates in this economic climate is counter-productive and will simply drive the economy into the ground!

   This is my perspective.

   If I'm wrong, maybe someone would be good enough to explain why.

   I thought this may be a good place to ask the question.

   So far, I've found no meaningful rationale to support the raising of interest rates in the current economic climate. 😕

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4. 

   @jacobfield4848

   January 7, 2024 at 6:20 am

   Inflation is caused by high energy prices and will be lowered when and only when energy prices come down.

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5. 

   @twenty3_co_uk

   January 7, 2024 at 6:20 am

   4 minutes in. Yes we have food inflation and yes we have energy inflation but it doesn't stop there. Wake up mister is inflation cost of materials? Cost of services Please tell me what was cheaper last year than this year..

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6. 

   @dangermann7460

   January 7, 2024 at 6:20 am

   This guy is clueless, inflation is caused by money printing.

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7. 

   @Avidcomp

   January 7, 2024 at 6:20 am

   The guy doesn't know what he's talking about. How is someone like this in the position he's in ?

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8. 

   @chrishart8548

   January 7, 2024 at 6:20 am

   I want interest rates to just keep going up. Im hoping we get to 18% the would definitely sort the inflation out.

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9. 

   @traintomorrow

   January 7, 2024 at 6:20 am

   I disagree inflation is going to go down itself there are high oil prices, we import all our goods , shopping bills are through the roof !

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10. 

    @traintomorrow

    January 7, 2024 at 6:20 am

    What we need is the war to end quickly haven't they killed enough people they need to settle this amicably and for good and oil prices which are also firing inflation to stiop affecting prices

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11. 

    @traintomorrow

    January 7, 2024 at 6:20 am

    The problem with the Economy is this if you don't put up interest rates , you will get soaring inflation we are an island state now more than ever we import. To crush inflation completely you nred to higher the pound , however, that would in turn crush mortgages and business investment, and you cant borrow now as we areone hundred % of GDP . So its a balancing act

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12. 

    @billybunter5575

    January 7, 2024 at 6:20 am

    why is it no one talks about the trillions the pharmacautical companys get from the tax payers and charge the nhs extortianate prices for there drugs and yet hardly pay any tax towards the economy whats going on with these big coporate crooks especially when they test there drugs out on poor african familys .

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13. 

    @radicaljohn1

    January 7, 2024 at 6:20 am

    This guy is a proper economist.

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14. 

    @radicaljohn1

    January 7, 2024 at 6:20 am

    No amount of interest rate rises will combat sunak’s Inflation program.

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15. 

    @filkey762

    January 7, 2024 at 6:20 am

    Where is he looking!?😅

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16. 

    @monkeyboy8424

    January 7, 2024 at 6:20 am

    Wasn't billionaire fishy Rishi Sunak in charge of UK finances prior to his current position? – Not my PM.

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17. 

    @alanpotter3146

    January 7, 2024 at 6:20 am

    Brains of rocking horses.

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18. 

    @carlcollins6659

    January 7, 2024 at 6:20 am

    Useless, incompetent, WEF, BOE. It's all about wrecking the £ to wheel in Global Banks and digital currency.

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19. 

    @rockinghorsepooh

    January 7, 2024 at 6:20 am

    Trying to bring us into the cbdc by crashing the economy

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20. 

    @TheCyclist19

    January 7, 2024 at 6:20 am

    This is nothing compared to what is coming down the track, unfortunalty our economic model us unsustainable. Our economy is built on debt with most people buying on the never never. Everything is so expensive now, adding in the interest rate rises, costs of renting, mortgages and stagnant wages the economy hanging by a thread. It is just a matter of time until it all comes crashing down!!

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21. 

    @Lsnh6299

    January 7, 2024 at 6:20 am

    Feedback: please don’t start this conversation assuming that the viewer doesn’t understand this or have an interest in these ‘statistics’. The uk media perpetually underestimates its audience, its preposterous

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22. 

    @lizm4580

    January 7, 2024 at 6:20 am

    Watching the UK crumble….

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23. 

    @stevenaustin8274

    January 7, 2024 at 6:20 am

    So it didn’t shrink overall it very slightly grew ! Therefore the headline is misleading

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24. 

    @paulb1034

    January 7, 2024 at 6:20 am

    What a joker, we have energy and food inflation because the pound has been devalued with ultra interest rates and BoE QE over many years, reversing both of those will put some value back into the pound and lower the cost of imported commodities.

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25. 

    @iguiste23

    January 7, 2024 at 6:20 am

    The Banks are being run by self important lunatics!.

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26. 

    @DJLalr

    January 7, 2024 at 6:20 am

    Whats wrong with Dr Roger ? Why is he not looking at the presenters ? He seems to be reading a script. Is he like an AI version of Dr Roger ?

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