Just posting to see if anyone else is keenly watching out for the interest rate announcement. My mortgage is fixed for almost another two years anyway so I don’t have any personal skin in the game in that sense, but I have work involvement in the property market so I have a keen interest.
What I don’t understand is if the government are using interest rates as a tool to bring down inflation but are also encouraging the banks to be lenient and do things like extend mortgage terms surely the latter counteracts the desired effect on spending? Not that anyone is out spending on luxuries but instead the rising cost of living is having this effect on inflation. Although I guess it is the only real tool they have and it has in the past been proven to work.
Apologies for any sloppy wording with this, I am on my phone on the bus. Anyway, just thought I would start an interest rate watch thread. What with that and the rain.