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Bank of England policymaker Kristin Forbes on verge of voting for rate rise


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12 minutes ago, M21er said:

Looks like Kristin Forbes is leaving Bank of England?

Just seen a tweet from Philip Hammond which implies that?

Also:

https://www.ft.com/content/60417943-c39c-3356-9fa9-aa89fe299b6b

Hogg replaces Manouche Shafik who is going to LSE

https://www.gov.uk/government/news/charlotte-hogg-appointed-new-deputy-governor-markets-and-banking

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I work in the food/hospitality industry.

Prices are certainly on the way up and you have to churn suppliers more recently to keep the prices from going up quite significantly.

Supermarkets are doing a great job of keeping the prices down and I imagine this is down to buying power and hedging.

We also have a wage rise coming + 4% to £7.50 per hour.

I just get that feeling of people trying it on for 10% and that if enough folks achieve that the mentality of a low inflation environment is well on the way of changing.

Our products will have to increase in price to cover this if we can and our competitors have already done so.

The facet we have a .25% base rate and are increasing the minim wage buy 4% (and the cascade that causes up the salary scale) is a joke TBH.

Any increase has already been eaten up by inflation.

If the rate was set by what people spend there money on it feels to me it should be 5%+

Edited by Fromage Frais
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53 minutes ago, Fromage Frais said:

I work in the food/hospitality industry.

Prices are certainly on the way up and you have to churn suppliers more recently to keep the prices from going up quite significantly.

Supermarkets are doing a great job of keeping the prices down and I imagine this is down to buying power and hedging.

We also have a wage rise coming + 4% to £7.50 per hour.

I just get that feeling of people trying it on for 10% and that if enough folks achieve that the mentality of a low inflation environment is well on the way of changing.

Our products will have to increase in price to cover this if we can and our competitors have already done so.

The facet we have a .25% base rate and are increasing the minim wage buy 4% (and the cascade that causes up the salary scale) is a joke TBH.

Any increase has already been eaten up by inflation.

If the rate was set by what people spend there money on it feels to me it should be 5%+

So what do people do.....they do things differently, like not eat out as much, shop differently, cook from scratch more, grow some food, cook in bulk, make own ready meals, eat less meat or no meat, stop buying processed or convenience foods, buy local and seasonal.....might just work out to be not only better but both cheaper and healthier.;)

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1 hour ago, winkie said:

So what do people do.....they do things differently, like not eat out as much, shop differently, cook from scratch more, grow some food, cook in bulk, make own ready meals, eat less meat or no meat, stop buying processed or convenience foods, buy local and seasonal.....might just work out to be not only better but both cheaper and healthier.;)

Hopefully not

Hey kids back in the days of 2016 before the Chinese bought all our homes and we become a theme park, actual British people used to be able to afford to go to this place called a pub/restaurant and have a meal and not just the tourists who come.  


No way dad next thing you you will say if that people used to be able to buy houses!

Edited by Fromage Frais
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3 hours ago, Fromage Frais said:

I work in the food/hospitality industry.

Prices are certainly on the way up and you have to churn suppliers more recently to keep the prices from going up quite significantly.

Supermarkets are doing a great job of keeping the prices down and I imagine this is down to buying power and hedging.

We also have a wage rise coming + 4% to £7.50 per hour.

I just get that feeling of people trying it on for 10% and that if enough folks achieve that the mentality of a low inflation environment is well on the way of changing.

Our products will have to increase in price to cover this if we can and our competitors have already done so.

The facet we have a .25% base rate and are increasing the minim wage buy 4% (and the cascade that causes up the salary scale) is a joke TBH.

Any increase has already been eaten up by inflation.

If the rate was set by what people spend there money on it feels to me it should be 5%+

I suspect we are about to see a london of companies collapse.

Tesco can keep prices down a bit...but we've already changed to Lidl/Aldi.

Eating out...never that fussed anyway,

Stopped going to the empty pubs, the £4.50 a pint, stick it.

Sure, raise prices, watch what happens.

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19 hours ago, M21er said:

Looks like Kristin Forbes is leaving Bank of England?

Just seen a tweet from Philip Hammond which implies that?

Also:

https://www.ft.com/content/60417943-c39c-3356-9fa9-aa89fe299b6b

Also reported in today's City AM. Once again they rotate out a potential hawk and will no doubt replace with another money printer to nod along with Carney. Same happened when David Miles started making noises and was replaced by that clueless Dutch fella. And of course they got rid of the only true hawk in Martin Weale. Luckily Ian McAfferty has fallen back in line otherwise he would be a goner too.

One theory is that they are all spineless creatures and like King and Sentance only become outspoken critics of the prevailing policy once they have safely pocketed their salaries and left. But Weale, Miles and to some extent Forbes all appear to actually disagree with Marky Mark at their meetings. So the other theory is that he simply boots them out for more yes men, 8-1 is not good enough for the vile little public school boy bully. 

Either way it stinks.

 

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20 hours ago, Fromage Frais said:

Hopefully not

Hey kids back in the days of 2016 before the Chinese bought all our homes and we become a theme park, actual British people used to be able to afford to go to this place called a pub/restaurant and have a meal and not just the tourists who come.  


No way dad next thing you you will say if that people used to be able to buy houses!

As a child I do not remember eating out very much at all, only on high days and holidays, the only take away was the local fish and chip shop a special treat.....looking at some of the menus in some places fancy food from basic not that expensive ingredients, all bells and whistles fad foods where they try and make normal food different and serve on fancy plates with fancy accessories.... 

 

Edited by winkie
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You just know that inflation and Trumps insane de-regulation experiment will simply force their slippery stubborn hands.

Love that stat someone from here posted about Carney's insane record as Governor inc. his time in Canada; of never having raised interest rates, I believe?

 

Edited by Tapori
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6 hours ago, Tapori said:

You just know that inflation and Trumps insane de-regulation experiment will simply force their slippery stubborn hands.

Love that stat someone from here posted about Carney's insane record as Governor inc. his time in Canada; of never having raised interest rates, I believe?

 

Its more than a raised rate though.  As you have stated he has never raised a rate only print and print some more.

When if he does it is literally something that has never happened before

Imagine that officially credit is going to be more expensive the the psychological impact will be massive. 


 

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  • 434 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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