Doubt Over Interest Rate Cut In August?

[@propertyaccelerator]

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[@versaceviper9798]

I remember Andrew specifically stating he will cut rates when the U.K. hits the 2% target “and stays there”. The fact that the BoE knows that inflation will tick back up due to energy costs tells me that there will be no rate cuts because inflation will not be “staying” at 2% …

[@propertyaccelerator]

Sure I just disagree with keeping rates high for things such as energy. That is supply side inflation which the consumer has no control over. If you want to keep rates high to surpress spending that makes sense. But people are not over spending.

[@BobBuilder-mq9wr]

CPI was only at 2% for the election , like most organisations a nice handout goes along way and the figures are amazingly inline with what the Goverment agenda is 😂😂😂😂😂, yet you go anywhere in the real world and prices are still rocketing up on a monthly basis

[@propertyaccelerator]

Did not seem the Tories much!

[@kellywalker4494]

Inflation benefits rich people. If I have a multi million pound property portfolio and rents go up 10% it’s happy days. The only downside is a bag of tomatoes costs 20p more.

[@propertyaccelerator]

True, those with lots of debt benefit which a rich person is likely to have in mortgage etc. Obviously I dont mean Credit Card debt.

[@NoBody-hv5vx]

If they won't cut rates in August, then they will never do. Once this chance is missed, the next most likely milestone will be follow the fed, which will not happen because the fed won't cut rates before the highly contested election between Trump and Biden in November. However by that time inflation will have ticked up which means there will be no rate cut till mid 2025. However the question is since other banks like the ECB are cutting rates with a higher inflation, and despite reaching out 2 % target, there is no rate cut for us, using excuses such as service inflation (or any other sector inflation that may be high at the time). It seems that most BoE board members have made a strategic decision for a high interest rate environment and relieving inflationary pressures through a strong pound resulting in cheaper imports, including food imports. Nothwithstanding that it's a vicious circle as it results in higher housing costs and rents. This only benefits the super rich who invest their money in the financial sector, however it hampers any chance of an economic recovery.

[@propertyaccelerator]

The FED normally would not cut so not to be seen as political. However if I was in charge of the FED I would not want Trump to win. He will fire the head of the FED and change everything 100% the FED hates Trump.

[@Eleven..Eleven]

Houses aren’t selling in my area (Kent) what is happening? Why is the market stagnant 🤷🏼‍♀️

[@BobBuilder-mq9wr]

Alot of viewings are going on at the moment , any houses that don't need much work are getting near asking price, any that need renovated people are keeping clear as materials are to the moon still

[@propertyaccelerator]

People are waiting for rates to drop.

[@PabloTBrave]

In the UK CPI is 2.3% , core cpi is 3.9% , core cpi-h is 4.4% Services inflation ( influenced by wages) is 6.0%. Don't believe the media published data, take the time and effort to read the xls spreadsheet that ONS releases with the full breakdown. As inflation is a 12 Month convey belt of data it is almost certain to rise again. You don't have to be the BoE to know that, just have a basic understanding of economics.

[@propertyaccelerator]

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[@steamhammer2k]

Inflation in the states is far worse than their figures suggest, They cannot drop rates because it would expose the falsehood`s, I am not surprised that rates remain at what you call high, I still say they are low relative to the boom bust cycles of the last 30-40 years. I am pleased that they have held their nerve, it will be better for us in the long term. I like a good $ £ rate it makes things cheaper to buy as fuel drops and everything we buy in the UK needs fuel. Remember when we almost had $2 for a £1, those were the days. 2 and 3 holidays a year as it was such a bargain.

[@propertyaccelerator]

I remember $2 to a £1 I was backpacking around Asia and it meant I doubled the length of my trip to a year!

[@farhada147]

Really good video, Thanks james

[@propertyaccelerator]

Very welcome

[@Gachartales7124]

2 %below inflation now w f they needed more

[@propertyaccelerator]

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[@ratsliveonnoevilstar1]

So, as the UK followed the Fed. The UK Could end up cutting rates in November

[@propertyaccelerator]

FED outlook changed a lot this week, they hinted of rate cuts SOON.

[@ratsliveonnoevilstar1]

@@propertyaccelerator hope so big J

[@graemejones9707]

They need to put real people on the board of the Band of England. When mortgages are sky high, taxes are being ramped up, food is 50% more than it used to be and fiscal drag reduces your take home pay in real term, it is almost impossible to make ends meet. This is especially true for single people.

[@propertyaccelerator]

Great point

[@Bigjohn277]

I have never been convinced that interest rates are going down in 2024. We will be lucky if we get 1 rate drop. Inflation is sticky and almost all personal finance youtube is saying that will put rate setters under pressure to keep interest rates higher.

[@propertyaccelerator]

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[@chrisb7324]

James can you recommend a decent Accountant for a new accidental landlord who’s considering future options

[@propertyaccelerator]

I would speak to local accountants ask them if they have experience with landlords. Always nice to meet them once a year.

[@garydowdall8647]

Is it worth going onto a flexible rate when my Mortgage expires in September and wait until rates drop for a few months before renewing a 2year interest only mortgage

[@propertyaccelerator]

Ive made a video on that recently check it out here kzbin.info/www/bejne/q5_JnqJ6bttorsksi=BzHapqLNEtiQ7AjO

[@stewartfearn3473]

Unemployment at 4% is still super tight and explains the 6% wage rise. Employers are competing for key workers. A situation not compatible with 2% inflation. My feeling is CPI will blow out to 3% by early 2025. The MPC will probably cut anyway, they are under pressure because of sluggish GDP...ie. they are covertly ditching the target. They won't admit it of course. No change there then, they have missed target by a country mile for 4 years whence we have averaged 5% not 2%. No wonder we have lost faith in fiat completely and gold and assets such as houses have gone to the moon over the last few decades. Look if they really wanted to hit 2% Chimps drawing straws would have done a better job at determining rates. Either they are thicker than Chimps or they have deliberately printed 23% of inflation over the last 4 years. My guess is the inflation was deliberate and the Economy comes first

[@graemejones9707]

In my industry, IT, there are literally no jobs around and rates are being forced downwards. I'm not seeing loads of rich, free spending people. They must be misreporting unemployment somehow. What about all the long term sick? Are they excluded from that?

[@propertyaccelerator]

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[@TazBo-wd2ig]

October 10000%

[@propertyaccelerator]

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[@delgas666]

After getting all predictions wrong people still create this type of content. Like BOE would cut rates to benefit us. They don’t care about us…

[@propertyaccelerator]

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[@davidwhitton5519]

The fed have already given the nod to wall street that they will be dropping rates very soon, that's why the us stock market rallied over there, they will probably drop them more of a precentage than people think. Plus the dxy dropped a good whack, the Feb have no choice but to drop rates because the us intreast payment is over a trillion dollars per annum at the current rate and they have 3 trillion debt rolling over from a low rate into the higher rate at the end of this month, meaning at current rates there intreast on nation debt would be around 1.65 trillion per annum, to put that in perspective that's there intier defence budget and almost all there social security cost combined, it would not be possible to fund that liabilty without monetizing that debt ie, getting the Feb to buy more us treasury's. Watch the dxy and expect it to drop below 1.02 over the next couple of weeks meaning a weeker dollar, because intreast rate cuts are imminent, we will drop As soon as that dollar drops below 1.02 gauranteed. Mark this post.

[@propertyaccelerator]

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[@DeyplaywithLOH]

Crazyy iniiit😮

[@propertyaccelerator]

They could not drop prior to election I get that, they wanted to hit 2% inflation we hit that so now they should cut.

[@youtubeman5033]

Sept I bet and only a small drop

[@propertyaccelerator]

Yeah first drop will 100% be 0.25%

[@nabazhamad5988]

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[@propertyaccelerator]

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[@ratsliveonnoevilstar1]

Jokers

[@propertyaccelerator]

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[@queensberryrulez5306]

Rate cut for August 100%

[@propertyaccelerator]

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