Updating post from Reddit.
In an interview with the Financial Times, the Bank of England Governor said, "[Inflation] has come down faster than we thought it would. I mean, a year ago, we were saying that inflation today would be around 1 per cent higher than it actually is.’
UK inflation has fallen far from a peak of 11% in late 2022 to its current rate of 2.3%, just above the 2% target. The FT article is titled "BoE governor expects four UK rate cuts next year as inflation eases" and SWAP markets are currently pricing three rate cuts by the end of 2025..
* The Bank Base Rate is used to control inflation and directly affects the pricing of Mortgages for homeowners and landlords.
Empty shop sites everywhere. No demand. People watching pennies.
Seems a pretty easy job at the BoE. Predictions are never right, never held accountable and you just follow the Federal Reserve for interest rates.
The Bank of England Governor's role faces high amounts of criticism during economic uncertainty no matter the decision they take, with periods in between of no one caring. A job of guesses on inadequate and outdated data.
I'm not sure id want it.
Doubt you could do any worse than the fuck that jas the job now.
What have they done wrong? Genuine question, I have no idea what the Governor of the BoE is meant to do TBH so I'd be interested in what they've done wrong.
When inflation started to rocket that fat fuck urged ordinary people not to ask for a pay rise. Bear in mind that the inflation experienced was cost and greed push not demand pull.
The prick and his prick buddies put up rates 14 months in a row. It takes about 2 years for a rate rise to wind its way through the system.
Outcome.... good luck trying to find a job. Lots of families doing a lot of belt tightening.
Do you think that greaseball wanker is feeling the pinch ?
Everyone faces criticism. GDP growth next year? Lets say 0.2%. We’ll revise that later when it’s clearer how wrong it is. Fed Reserve thinking of cut this month. Let’s announce an interest rate cut in January of 0.1%. Inflation? Lets go for a prediction of 2.9%.
Pay me 500k and I’ll put my name to that.
I’d take being called an idiot for 500k a year
I said, "I'm not sure," as a way to negotiate the amount up to £520
I get called an idiot for much less.
Where can I read more about this?
The article from Financial Times is linked in the pinned comment - https://www.ft.com/content/800198bf-afc6-4bf3-9053-81c0e07cc50a