Yeah its testing the post brexit lows really, markets are expecting the fed and boe to diverge.
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
BoE is damned if it does and damned if it doesn't keep up.
If it doesn't prices will increase for food and particularly energy (amongst others).
Yep, it's happening now alright. Nowhere for the BofE to hide now, but when you just base your economy on ever increasing house prices, the final outcome is nailed on.
Ultra low interest rates and QE are the only reasons we are in the mess we're in, and all blame is on the Government and BofE. All of their own making.
Ultra low interest rates and QE are the only reasons we are in the mess we're in, and all blame is on the Government and BofE. All of their own making.
Soldato
Drove past Asda fuel station this morning and it has gone up by another 2p a litre since Sunday! (£1.79.99 a litre from £1.77.9). Ironically Sainsbury's is a penny cheaper at £1.78.99. Can only be a matter of time before it hits £2 a litre, possibly even before the end of June.
Soldato
In 2008 oil was $140 a barrell
tradingeconomics.com
Petrol was £1.10 a litre.
Crude Oil - Price - Chart - Historical Data - News
Crude Oil increased 5.04 USD/BBL or 7.03% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on August of 2024.
tradingeconomics.com
Petrol was £1.10 a litre.
Count yourself lucky, every single station near me in at 192.9 a litre and that's not even on the motorway.
Fire at Texas LNG Terminal Sends Prices Falling
one mans meat .... & further bump in prices for us - not sabotage ?
Soldato
- Joined
- 29 Jul 2004
- Posts
- 7,080
Plus 13p a litre in "eco" additives nobody asked for.
In 2008 oil was $140 a barrell
Crude Oil - Price - Chart - Historical Data - News
Crude Oil increased 5.04 USD/BBL or 7.03% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on August of 2024.
Petrol was £1.10 a litre.
Value of sterling. Demand for petrol/diesel is pushing prices higher this time, not just related to the oil price.
Sterling in a precipitous fall still against the dollar and most others.
Soldato
It would only be fair for you to also disclose your position as well to understand why you seem to be looking for rates to increase?
Do you currently not own your own property and are looking for a housing crash?
Soldato
- Joined
- 16 Aug 2009
- Posts
- 7,911
Sainsburys is now £1.84 here! thats 10p increase in a week
I own my property outright - mortgage paid off in 2015.
A lot of inflation is imported inflation in the UK. It is in everyone's best interests to ensure that food and fuel prices remain at least semi-reasonable. A weak currency due to failure to maintain correct interest rates will cripple the UK and is a far worse outcome than people losing their homes because they can not service their debt.
Yes, a house price crash is on the cards. Yes, my house would plummet in value, but it makes no difference as I have to live somewhere and i'm unable to use the house as a cash machine. The bottom line is that house prices are completely ridiculous in the UK, pumped up by QE and ultra low interest rates since 2008.
Soldato
The crazy thing about all of this currently is that the price of crude oil isn't even remotely close to its highest point yet, in 2008 it peaked at $147/barrel and we all know what happened in 2008. House prices have started to drop significantly in the USA with some states seeing prices plummet nearly 20%
We are heading for a global recession and this time it will be even more catastrophic.
We are heading for a global recession and this time it will be even more catastrophic.
Soldato
2008 was the sub prime mortgage crash - the house of cards came crashing down.
Soldato
Yep one of many variables that ultimately lead to the crash of 2008.
This time we have the value of the currency itself dropping thanks to rising inflation which is causing financial markets to drop significantly due to rapidly rising interest rates, commodities are being gutted and with interest rates rising as a consequence we will see the housing market be impacted in a way that makes 2008 look like a blip in the matrix.
This time we have the value of the currency itself dropping thanks to rising inflation which is causing financial markets to drop significantly due to rapidly rising interest rates, commodities are being gutted and with interest rates rising as a consequence we will see the housing market be impacted in a way that makes 2008 look like a blip in the matrix.
What are you saying here? The avg property in the UK is valued about £275k. The crash in 2008 was somewhere in the region of 10-15%, do you think we're going to see a 20% + crash?
Soldato
We already are seeing house prices drop by ~20% in some parts of the USA, its only a matter of time before it propagates further a field.
Soldato
- Millions will receive the first of two cost of living instalments totalling £650 from 14 July 2022, part of the £1,200 support package this year
- Initial automatic instalment will be £326, with the rest to follow in a second instalment in the autumn