Strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. That weve seen over the past 25 yeas that weve seen over the past 2. 5 ears. ,. , , 2. 5 years. Other democrats used the downgrade 2. 5 years. Other democrats used the downgrade as 2. 5 years. Other democrats used the downgrade as an 2. 5 years. Other democrats used the downgrade as an opportunityi the downgrade as an opportunity to point the finger at republicans. While Republicans Blamejoe Biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, Includingjp Morgan dismiss the downgrade, including Jp Morgan Chase ceo who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasurers, that is government ious, remain th
I strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. Other democrats used the downgrade as an opportunity to point the finger at republicans for their role in the recent debt limit fight. While republicans blame joe biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, including Jp Morgan Chase ceo jamie diamond, who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasuries, that is government ious, remain the bedrock of the Global Financial system, despite this latest knock to the reputation. Expectations are high that it will raise rates again. If so, it could take the cost of borrowing up to a 15 year high. Consumer inflation has come down more than expected
Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
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Not in line. What the bank is doing is looking back at inflation, but forward at what this Rate Decision may influence in terms of behaviour. I think, from last Bank Of England became, where they moved a 50 basis points, that was taken as a really big jump in rates. Since that decision, we have seen some improvement in inflation numbers. There were still some calming for a 50 basis point change, but i think that this was more of the consensus. As you say, the balance between trying to get inflation under control, because lets not forget, that also makes people poorer in the long run, and also, making sure that there is not too much damage done to there is not too much damage done to the economy is a Balancing Act that they have to play. And, if you watch some of the comments Andrew Bailey made after the meeting, there were some pretty negative outlook in terms of gdp and the general gross scenario for the uk. Scenario for the uk. And, a fine line in terms scenario for the uk. And, a fi