Guest
Guest
Aug 16, 2023
10:10 PM
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OK so as I understand it, inflation is prices going up, and that’s a bad thing when it gets out of hand, as it apparently is in danger of doing.
So the Bank of England want to slow inflation down.
Inflation occurs when people are buying lots of things, so because products are in demand, the prices go up- is that right?
So the BofE want to stop people spending money. And to do that, they raise interest rates, so we’re all penniless after paying our mortgages, and not spending on products. As a result, the products get cheaper, and inflation is slowed.
Is that correct?
If so, then I’m confused, because we’re always being told that to boost the economy we need to spend lots of money, buy things, keep shops going etc.
So am I completely misunderstanding?
thanks
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Maggie
Guest
Aug 16, 2023
10:13 PM
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It seems like your question delves into fundamental financial concepts. Understanding the impact of inflation is key when it comes to managing finances. Inflation erodes the purchasing power of money over time, affecting savings and investments. This insightful discussion offers a foundation for comprehending how economic factors can influence personal financial decisions.
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Guest
Aug 16, 2023
11:05 PM
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ok bet
Guest
Aug 16, 2023
11:47 PM
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