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The scramble to raise interest rates is causing predictable carnage in the markets. This going to be a brutally volatile year ahead. Should've stuck with gold after all.

 

Gas prices have more than doubled in the last few days and if the £ weakens further then the sterling cost of oil and other dollar-traded commodities is going to rise steeply. We're not getting out of this mess in a hurry.

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Today's BoE interest rate rise has saved Sterling from a complete thrashing. I expect we'll now see currencies chasing each other from interest rate hike to interest rate hike. 

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16 hours ago, compo said:

 Come October and the energy price cap is expected to rise by a staggering 46% 

I just don't know how they can expect many to afford that. How can a pensioner or a single parent on UC account for that kind of increase? 

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47 minutes ago, Sutton_blows_goats said:

I just don't know how they can expect many to afford that. How can a pensioner or a single parent on UC account for that kind of increase? 

Maybe the CEOs of Utilita, E-On etc. can discuss that on their quarterly trips to Saint Tropez?

 

yacht rock GIF

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17 hours ago, compo said:

 Come October and the energy price cap is expected to rise by a staggering 46% 

 

1 hour ago, Sutton_blows_goats said:

I just don't know how they can expect many to afford that. How can a pensioner or a single parent on UC account for that kind of increase? 

:thinking:

 

How did we end up here?

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