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© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.UK raises interest rates as central banks focus on inflation
By PAN PYLAS and DAVID McHUGH LONDON©2024 GPlusMedia Inc.
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GBR48
This will make no difference to inflation. It will just add to everyone's grief by increasing the cost of loans and mortgages on top of everything else.
Prices are rising due to crimped supply chains and a lack of labour mobility caused by government policies. If you remove a cog from a machine and it stops working, replacing the cog will fix it. Hymns and offerings will not.
They could increase interest rates to 5% or 10% and it still wouldn't fix the mess that government policies have caused.
RegBilk
Rising fuel costs, rising food prices, rising tensions with the EU--things aren't looking good in the UK right now.