UK inflation falls to 2.3% in latest figures
https://www.bbc.co.uk/news/live/business-69027403?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=664d888b6a13b132383a4f42%26UK%20inflation%20falls%20to%202.3%25%262024-05-22T06%3A02%3A09.661Z&ns_fee=0&pinned_post_locator=urn:asset:d7a1d1c9-f1f0-41ad-9eae-c5ed74f47ae8&pinned_post_asset_id=664d888b6a13b132383a4f42&pinned_post_type=share
Posted by sjw_7
6 Comments
Hurray! Things are getting more expensive, just *slower than before*…
Does this mean we can just start borrowing like it’s going out of fashion again?
Who’d have thought that spending reduces once the majority of people have been squeezed of all their money
Ah yes, so now what will happen is the BoE will decide they can cut rates in order to keep the financial heroin addiction going.
People will borrow. The country will borrow. Then we’ll print again. Then the pound will get weak against the world reserve currency causing……inflation.
The biggest kick in the teeth is that Rishi will take credit for this fall in inflation later today. Though he won’t give an explanation. Because the explanation is that people are broke and tapped out. It’s a pity the guy never took credit for the 10% inflation rate to be honest – given that that was actually genuinely his doing via the furlough scheme while in post as Chancellor.
BOE wont reduce rates by much. We’ll never go back to the 2010-2021 era of next to zero rates because central banks have no lever to pull if things go tits up. I think we’ll see rates settle around 2.5-3% in the next 18 months
Looks like we set up for rate cut next month.
Next inflation reading is on June 19th with BoE meeting in June 20th…hopefully it falls below target.