33 Comments

1. 

   @andrewbarton-willson495

   January 17, 2024 at 1:10 pm

   Yes the Old Lady was asleep at the wheel but having been awoken to her duty she has grossly overreacted and has Thread the Needle aiming at her own vitals.
   We had a temporary energy price crisis (now largely over)- not an inflation crisis. But with unwonted savagery the panicky interest rate hikes have stoked the flames on a ruinous inflation that is hurting (but not working).

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2. 

   @bmac3093

   January 17, 2024 at 1:10 pm

   Bank of England have been tasked by govt to get gdp up so they raise rates to boost bank profits at the expense of anything else

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3. 

   @davidchamberlain5425

   January 17, 2024 at 1:10 pm

   This world is all a fleeting show!For man's illusion given!..

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4. 

   @Galacticmaster

   January 17, 2024 at 1:10 pm

   i still think out of all this truss was right, only way we can get jobs is growth – no growth means shrinkage, there is no condition of normal where everything stays the same thats bs and totally doesnt work that way. but still think the bank of england is managed by a group of people who dont give a damn about the common man and wont until they and their families are totally washed away or put in jail.

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5. 

   @Ali-km5qm

   January 17, 2024 at 1:10 pm

   From the way Nigel Farage talk seems to be doesn’t understand what is the financial market on the economy and the world trade organisation

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6. 

   @ifcukin8mufc168

   January 17, 2024 at 1:10 pm

   Top Man
   Top interview
   Sounds like PM and Chancellor !

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7. 

   @DarrenSmith-zz6fk

   January 17, 2024 at 1:10 pm

   This is designed to calapes the system to bring in the cbdc system to think our fathers died to allow us to enjoy our freedoms now we are allowing them to take them away from us their is no free markets anymore why is no one asking Andrew bailey how much as the bank of England lost or I forgot they don't mark to market the government debt they leave them mature no unrealised losses I would like someone in the media should ask the chancellor how much is the treasury paying in unrealised losses to the bank of England dont forget they're the buyers and lenders of last resort

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8. 

   @ianmarsden8568

   January 17, 2024 at 1:10 pm

   Does not know what he's doing.

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9. 

   @sandrafoxley735

   January 17, 2024 at 1:10 pm

   unelected sunak and bailey are the common denominators in this mess – both are shit useless – from the start of all this printing money and its continuation I have wondered why no-one in government or the boe called attention to the weimar republic and what happened when it printed money. It doesn't matter what the circumstances – printing money will always end up in chaos (political and social). The perpetrators of all this mess should reflect on the damage they have done to this country – to the extent that the eu probably wouldn't want us back now – such is the debt, the damage – a tremendous irony – karma to all those who thought they knew better than the electorate by trying to overturn the result of a democratic election. HA, BLOODY HA………………

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10. 

    @our-days-are-short8254

    January 17, 2024 at 1:10 pm

    Bailey needs sacking and ban the w0rld Ec0nomic f0rum. They want to ruin us and own everything.

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11. 

    @patriciaharding7040

    January 17, 2024 at 1:10 pm

    AND THIS government gives away OUR money to MIGRANTS THE FRENCH OTHERS COUNTRIES AND NOW THE E.U

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12. 

    @DextraVisual

    January 17, 2024 at 1:10 pm

    They should never have been allowed to get so low. It fuelled the housing market to reach ridiculous levels. Created a generation of young people unable to get a home and start families.
    It's wouldn't be as painful now if the BoE had raised the rates over the last ten years and given us savers something back too.

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13. 

    @philiplindley7384

    January 17, 2024 at 1:10 pm

    So, we had stupidly low interest rates for 15 years and now we have the biteback . . quelle surprise??

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14. 

    @maxthemagition

    January 17, 2024 at 1:10 pm

    The UK is bust, get used to it.
    High inflation is here to stay.
    Mountainous Public and Private Debt is here to stay for generations.
    There is no escape other than High Interest Rates, High Inflation, High Taxes, High Debt.
    Other than that we may very possibly be heading towards another Great Depression.
    We witness everything being done to shore up the Market and the likes of property and other assets.
    Nobody would have believed in 2008, that almost FREE MONEY (at zero% int rate), would be dished out to the banks for the next 14 YEARS for them to spend as they wished, whilst at the same time £Trillions of IOUs (Bonds) would also be printed.
    The World is now awash with DEBT and IOUs…..Hundreds of £TRILLIONS worth….Far more than the value of all Stocks and Sgares on the Planet.
    There is only one way this can go and that is DOWN…….

    The panic that a Stock Market Crash would have, is frightening….far worse thane the 1929 to 1939 crash which was followed by WW2.

    PRINTING MONEY and IOUs is the only way to prevent a Market Crash and Property Crash, without which the inevitable will happen.

    The Country is broke…..Full Stop.!

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15. 

    @TheJon2442

    January 17, 2024 at 1:10 pm

    Just like the COVID experts, follow the money, ops facts!

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16. 

    @stitcheruk1150

    January 17, 2024 at 1:10 pm

    Revenue has gone up in US dollar terms because the pound Sterling has been devalued by 10% and most banking/city revenue is in foreign currencies- apart from corporate debt issued in Sterling. Hence £70 billion to £77 billion.

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17. 

    @mre7550

    January 17, 2024 at 1:10 pm

    So the bank puts up the mortgage rates in order to stop people having too much spending money, while the government helps people to afford those mortgages so they can keep spending.

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18. 

    @wallydogg6771

    January 17, 2024 at 1:10 pm

    With present levels of cost push inflation do we really need to depress the economy further with interest rate hikes that will ultimately lead to a cost/wage spiral as homeowners desperately try to hang onto the roof over their heads?

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19. 

    @Yelluz

    January 17, 2024 at 1:10 pm

    Keep that base rate rising! Borrowers had years of rock bottom interest rates for no good reason. Stop whinging and cut back on the crap you don't need.

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20. 

    @davebrown5539

    January 17, 2024 at 1:10 pm

    Why is that idiot at the BOE still in a job

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21. 

    @peterhicks5590

    January 17, 2024 at 1:10 pm

    Recession in sight is here

    BOE to make what the Americans call a jumbo rate hike , im thiinking i may start taking my money out as this has all all the signs of the 2008bank crash, inflation through the roof ,food ,fuel ,energy, and water touted to go up 70% in engineering terms its called point break .
    100% of GDP cant cover the borrowing costs . BOE to announce at 12,today !

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22. 

    @stewartmcintosh1073

    January 17, 2024 at 1:10 pm

    Actually shows you how bad the people who are in government or all people in charge of this country it's the wrong people who are in charge that guy sounds very sensible and all the s*** we hear coming from MPs they always like blaming brexit or something on your problems have been doing that for many years he used to always blame the EU for their problems I've always said when we leave the European Union will sort out her MPs are completely useless at their job that is the reason they did not want to leave the EU because it would be all found out

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23. 

    @stevecollins2808

    January 17, 2024 at 1:10 pm

    Fractional reserve banking is a bad system… you only need a small percentage of loans to go bad and the house of cards collapses… advocating for a smaller percentage to be kept on hand is a bad idea… remember it's the bank depositors who lose their money when the bank fails due to bad investments.. credit Suisse didn't tick all the boxes.. they made risky deals and people moved to preserve their deposits… if you want to stop inflation, reduce the money supply and stop expanding government debt.

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24. 

    @connormcleod9595

    January 17, 2024 at 1:10 pm

    Rates need to be 10%+

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25. 

    @tropics8407

    January 17, 2024 at 1:10 pm

    The government wanted more money to spend and they wanted to pay a lower price hence they wanted that lower interest rate

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26. 

    @tropicalape-bl2gx

    January 17, 2024 at 1:10 pm

    A political figure or at least, poloitcally motivated figure, like Farage, saying the BoE is making things worse? Well, as a political figure, he's going to try have 'good intentions' like they all do. The BoE however, is doing it's job to cool the economy down. Even if that means a little recession. On paper it would be a recession, but not technically. This is why central banks are seperated from politcs. It allows them to do what is needed, regardless of whether it is popular or not.

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27. 

    @GreenStreetPlayer1

    January 17, 2024 at 1:10 pm

    Rates are not just about inflation. Historically the fairly frequent rise and fall in rates kept house price growth more or less checked as well. But house price growth does not have a cap, so when rates are left so low for so long, we get a house price bubble and sky high scary amounts being borrowed as we saw. The double whammy then occurs when those rates then rise, out of kilter to house price growth. Rates should have increased many years ago. We would have seen less amounts being borrowed and less of an increase in mortgage repayments.

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28. 

    @iancoles1349

    January 17, 2024 at 1:10 pm

    Someone is screwing it somewhere

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29. 

    @clarkegable3622

    January 17, 2024 at 1:10 pm

    If you take out a mortgage rate at the time of purchasing a house it should be at that rate for the life of the plan. If I can afford an interest rate of 3% how will I afford a rate within a year or two if it raises to 7%. The bank of England is causing great damage to homeowners.

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30. 

    @patcoughlan5638

    January 17, 2024 at 1:10 pm

    Interest rates have to go up to counter inflation. Working people are going to have a difficult year. More interest rates will likely follow.

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31. 

    @j4wn

    January 17, 2024 at 1:10 pm

    All in the same Club, all Evil. They'll gladly strip your entire worth from you.

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32. 

    @BulletProofBrain

    January 17, 2024 at 1:10 pm

    Interest rates have been artificially suppressed by Western governments for decades by unlimited government spending.
    Inflation is rampant and the recession is just beginning.

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33. 

    @johnmknox

    January 17, 2024 at 1:10 pm

    Bailey, Sunak, and Hunt have all caused the predicament we are currently in and all should go.

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