Emeritus Prof Christopher May on Nostr: Swati Dhingra who sits on the BoE MPC who make decisions on #interestrates, told the ...
Swati Dhingra who sits on the BoE MPC who make decisions on #interestrates, told the BBC:
'The economy’s already flatlined. And we think only about 20% or 25% of the impact of the interest rate hikes have been fed through to the economy. So I think that there’s also this worry that that might mean that we’re going to have to pay a higher cost than we should be paying'
In other words, if you think the pressure on #households has peaked, the #Bankers want you to know you've seen nothing yet!
'The economy’s already flatlined. And we think only about 20% or 25% of the impact of the interest rate hikes have been fed through to the economy. So I think that there’s also this worry that that might mean that we’re going to have to pay a higher cost than we should be paying'
In other words, if you think the pressure on #households has peaked, the #Bankers want you to know you've seen nothing yet!