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[Finance] Do you personally want interest rates (the base rate) to go up, down or stay the same?
- Thread starter Mustafa II
- Start date
I, personally, don’t like to see my nephews and nieces paying more and more for their mortgages while I’m getting more and more for my savings. But I understand that to kill inflation you have to suppress spending, and it’s the younger generation that tend to spend more, so you increase interest rates to take money from them and give it to savers who’ll horde it. I’d like to understand why just increasing taxes wouldn’t have the same effect of suppressing spending without disproportionally clobbering the young.
Quite annoyed that we changed our cash ISA to an ethical stocks and shares ISA to 'make our money work harder' the week before Putin invaded Ukraine. Since then interest rates on what would have been our old ISA have gone up, and the stocks and shares ISA has plummeted.
So, personally, I'd like interest rates to drop so that I don't feel so bad about our decision!!
So, personally, I'd like interest rates to drop so that I don't feel so bad about our decision!!
If you're asking what benefits me personally, the higher the better, so long as my ISA roughly follows the trend. Of course, I have offspring paying a mortgage and generally starting out on life, so the bank of mum and dad (well, just dad actually) may not entirely benefit!
- Mar 23, 2023
- 2,122
The world we exist in is fundamentally unfair and favours people with money, it’s horrible.
Stabilise more or less where they are perhaps and not be prone to rapid movements at all………reasonable returns for savers and mortgages (our eldest is just about to take out her first one) still reasonably affordable and historically still quite low (wouldn’t want kids to experience the pain of 14% mortgages as we did 
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I’d just like someone competent to run the economy; I have had enough of the current lunatics.
Pevenseagull
meh
- Jul 20, 2003
- 20,666
I just want a definitive response to the pros and cons of water flossers.
Sounds like your interest rate has risen.
Justice
Dangerous Idiot
Zero insight from the OP why he posted this thread in the first place.
- Oct 20, 2022
- 6,905
I gave Mustafa the answer he was hoping to hear to create a divisive thread - but of course I don’t want interests to go up because people are struggling including friends at work and my neices/nephews with trying to get mortgages etc but I don’t want really them to drop much lower either, I depend on my monthly interest payments from fixed term savings to top up my income at the moment and I’m still struggling at the end of the month - no holidays, no car, no new clothes, no nights out - Brighton football matches (and getting to them has by far been my biggest expenditure this year after utilities and food.
Whilst you are correct bout fairness and favouritism, do you think it was ever any different?
I suspect Musty has gone mad again and will flounce soon
Agree -
Disagree -
Ruel Fox -
HastingsSeagull
Well-known member
Problems for people if it goes up, problems for people if it goes down. Maybe for now it could stay the same until someone decent can come into power and improve the situation.
I can tell you one thing. If Trump goes to jail the whole world economic outlook will improve 3 fold.
Barnet Seagull
Luxury Player
Go down. To reduce inflation money needs to be taken out of the economy. The only place it is going now is to the wealthy.
I'd much rather see lower interest rates and tax used to take money away. This could then be used to address child poverty amongst other things
I'd much rather see lower interest rates and tax used to take money away. This could then be used to address child poverty amongst other things
Green Cross Code Man
Wunt be druv
At least most of the world will get a warm fuzzy feeling.