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We changed to a repayment last year and it has gone up nearly 80 quid since then. What a bunch of complete and utter w4nkers we have at the Bank of England. I kid you not I am seriously worried about losing my house and if that happens I swear I will fcuking kill someone.
The real rate of inflation is far higher due to rises in council tax, the increases in house prices and the rises in charges for other services such as public transport. Private sector salaries rise to keep pace with these increases and fuel inflation. The public sector is stuffed because pay increases are linked to the lie that inflation is around 2% when in fact it is far higher, and public sector employees get stuffed from three directions - rise in interest rates, salaries that are shrinking in real terms and an increase in the cost of living.
Central banks around the world (including the BoE) can do what they like with interest rates but they've lost control of liquidity and credit apparently
"that central bankers have traditionally tried to control the economy by influencing the price of money â which is usually defined either as narrow money (what central bankers create) or broad money (what commercial banks create through lending, which can be heavily influenced by central banks.)
However, the structured credit and derivative revolution essentially leaves central bankers increasingly powerless to control liquidity â meaning that not only are they unable to prick the current credit bubble, but will be equally impotent to combat its future collapse"