The next meeting of the Bank of England’s monetary policy committee has been delayed by a week.
A tweet from the BoE on Friday made the announcement, saying: “In light of the period of national mourning now being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of one week. The Committee’s decision will be announced at 12 noon on 22 September.”
The committee last met on August 4 when it voted to raise the base rate from 1.25 to 1.75 per cent - the sixth consecutive rise in a row as the Bank grappled to curb the rising inflation rate.
The rate is at its highest level since December 2008 after the biggest single rise since 1995.
Many analysts expected the original scheduled meeting for September 15 - this Thursday - to have seen a further rise. The decision will now be made a week later.
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The market will decide, STOP interfering you over privileged and pampered posers
Real working people are maxed out with this assault on their living cost from the worlds globalists, bullying us in their journey to enslave us all and attain total power. Fuel, electricity, gas, food, taxes, and interest rates. You're just trying to enslave us, take our homes. we know what you're up to!
STOP THIS NONSENSE NOW!
No More Interest Rate Rises - Time to REDUCE rates as we don't give a toss about inflation.
The energy price cap is set to reduce inflation by 4-5% Is this not proof that the factors causing the inflation are not the usual ones? Penalising mortgage holders and business with punitive interest rates will not bring down inflation caused by Putin's war & the rising price of gas & oil. I just don't get it!
We know they will go up anyway, this is just a short delay.
A Parliamentary Committee interviewed B of E Governor plus 2 senior committee members. They (B of E) revealed, based on August figures, that the energy costs due to Putin's war had increased inflation in the UK by 7%. They also suggested that a secondary pressure put on businesses accounted for a further 3% potentially.
They expect these effects to start dwindling from the 4th quarter in 2024! Asked by the Interviewees what difference would putting interest rates up they answered that they would need to see full policy that Truss was rolling out but believed an increase in rates would bring this forward to the first quarter in 2024.
It was pointed out then that an interest rate would only save a few months, in which case why put up interest rates and risk homeowners their homes, businesses going under, people losing their jobs and ultimately. tipping the UK into a recession!
If they put up rates again sack the lot of them.
Yes interest rates should never have been allowed to get this low, but now is the time to grow the economy for the benefit of all and not penalise homeowners, persons with loans and businesses.
I live in hope.
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