Why have they ignored my advice and put up interest rates? Because inflation’s on the up? But that’s not because we’re all feeling flush and spending more, otherwise House of Fraser wouldn’t be about to go bust. The plummeted £ means everything we import (ie nearly everything we buy) is more expensive.
OK, because unemployment’s low and wages might go up? No. Do you know anyone who’s tried to sign on recently? Most give up and get a ‘gig economy,’ self-employed job paying less than the minimum wage.
No, the real reason is so that rates can be cut again next year to try to avoid the possibly-now-inevitable no-deal recession. It’s called ‘wriggle room’. Watch this space.
