Interest rates should be as low as possible https://www.taxresearch.org.uk/Blog/2024/05/13/interest-rates-should-be-as-low-as-possible/ The Bank of England is trying to force up interest rates so that they can keep them as high as possible. That’s deeply threatening to our wellbeing by redistributing wealth upwards, reducing the amount of investment in the country and demanding austerity of government. Interest rates need to be as low as possible.
@RichardJMurphy at risk of saying the unmentionable, this isnt what lot of people would agree with. Higher interest rates allow those with savings to actually make some return on all that hard earned money. The very low/zero interest rates only benefitted banks or building societies, who could invest that money anyway, without passing on any gain to the people it belonged to. We are ordinary people who have managed to save a bit. We are not millionaire monsters.
@DrPen@RichardJMurphy If you have enough money saved for the amount of interest returned on it to make a real difference, you're probably not doing anything productive with it the capital or the interest. And this is a real problem. Too many savers sitting on wealth. Far better for govt to give savers interest incentives to invest in, for example, green bonds or ISAs which would actually do some good in the economy.
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