I wrote yesterday that the chance of an interest rate rise is remote in the extreme. About 10,000 people have read that blog post now.
I note the Office for Budget Responsibility agree with me. This is their forecast today for the next few years:
They're suggesting rates might fall to 0.0% i.e. nothing.
And then they might increase to 0.2% over five years.
In other words, negative real interest rates are here to stay for now.
If you need elaboration, this is it, including their gilt rate forecast:
Note they're suggesting a rate in 2025 of maybe 0.5% on gilts.
Would the debt fetishists please take note?
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The curves slop upwards – rates are expected to rise.
If you really think 0.2% makes a difference – yes
But it also proves that you really are unable to spot what is important
Please go away now
I have no time for fools
Ah yes, a positive gradient of ~0.08%/year.
How very substantive…