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And the rate of inflation in Germany is? 6.0% I believe. I’d rejoin tomorrow, but UK inflation wouldn’t immediately tumble.

Instant access savings accounts are giving up to 3.5%. Two year saving rates were up to 5.5%, before today’s increase. Current accounts are never going to pay much interest. Take a look at Hargreaves Lansdown’s website to verify these rates.

In my opinion the government needs to temporarily suspend its mandate to the BoE to control inflation at around 2.0%. Base rate should have been left at around 2-3%, to bring to an end the era of cheap borrowing, but, beyond that, people should have been left to manage the effects of high...

Indeed. I’m far from convinced that raising base rates is having anything but a minuscule effect on reducing inflation. Maybe the policy will only start to have a real effect once it has hit the mortgages of far more people, which isn’t a pleasant prospect. Can only hope that the spike in...