Religion and Ethics Forum

General Category => Politics & Current Affairs => Topic started by: Nearly Sane on March 23, 2023, 06:45:33 AM

Title: UK interest rates: Another rise expected as prices soar
Post by: Nearly Sane on March 23, 2023, 06:45:33 AM

More trying to control the heat of the oven by switching the oven light off


https://www.bbc.co.uk/news/business-57764601

Title: Re: UK interest rates: Another rise expected as prices soar
Post by: jeremyp on March 23, 2023, 07:45:48 PM

Well not really. It works by reducing the amount of money in the economy available to buy things so people don't buy things, so prices fall - or at least don't rise as fast.

It's far more effective than turning off the oven light. It's more like reducing the oxygen levels in the kitchen (I'm assuming this is a gas oven), but unfortunately, we all live there.

Title: Re: UK interest rates: Another rise expected as prices soar
Post by: Nearly Sane on March 24, 2023, 01:58:18 AM

Quote from: jeremyp on March 23, 2023, 07:45:48 PM

Well not really. It works by reducing the amount of money in the economy available to buy things so people don't buy things, so prices fall - or at least don't rise as fast.

It's far more effective than turning off the oven light. It's more like reducing the oxygen levels in the kitchen (I'm assuming this is a gas oven), but unfortunately, we all live there.

Yeah, I know the theory but the practice isn't really that simple, particularly just now

Here's an ok article on it


https://www.linkedin.com/pulse/raising-interest-rates-wont-solve-inflation-heres-why-zadig-el-musawi