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Martin Lewis has a warning for mortgage holders as inflation soars
Posted
June 16, 2022
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12:09Now PlayingSpeaking at the Founders Foundation to Mariella Frostrup, Martin Lewis has stated that he doesn't see how the interest rate rising will help the economic issues.
"I struggled to see how an interest rate rise helps in a supply-led economic problem, which is what the cost of living is."
IT'S ALL THE BANKS CAN DO
"I wonder if the reason the Bank of England is putting interest rates up is because that is literally the only tool it has in its arsenal, its job is to control inflation. It only has one tool to deal with."
ON INDEPENDENT BANKS
"I like the independence of the Bank of England. I'm not suggesting we don't change it. But you do have to wonder if we didn't have an independent Bank of England, so that it was the government controlling everything. Could you actually have a more rounded solution be brought forward? I don't know."
ON GOVERNMENT'S POWER TO MAKE A DIFFERENCE
"We have an adversarial political system. Can you imagine a company that had one team that people set up to operate it and another team that people pay to oppose whatever they're doing? I don't think it's a particularly productive way to run anything."
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