Interest Rates to Soar
Published / Last Updated on 22/08/2010
by Ashley Clark, Director
A think tank has agreed with what we have been saying for months now in the fact that interest rates will have to dramatically rise once we come out of recession to curb inflation.
The previous Government via the Bank of England has pumped so much new money into the economy by buying back its debt with quantitative easing that following the end of the recession or indeed any double dip, there will be so much money in the economy that demand will outstrip supply and prices will surge upwards.
Wages will rise, property prices will rise, shares will rise, we believe it will be a mirror of the Thatcher 1980’s where we ended up with inflation at over 23% and interest rates in the late eighties at 16%.
We suggest people concentrate on debt reduction and pay off as much mortgage debt and card debt or finance as you can. In five years time, this country and your mortgage payments will look totally different.
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