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U.K. banks raising mortgage interest rates…cause inflation hasn’t fallen as much as expected. Can anyone do an ELI5 as to why? (lemm.ee)

submitted 7 months ago by SouthEndSunset@lemm.ee to c/finance@beehaw.org

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As the title says, numerous banks in the U.K., maybe across the world, are raising interest rates on mortgages, and the given reason is cause inflation hasn’t fallen as much as expected. Can anyone give me a basic inflation, other than greed, as to why they’d do this?

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[–] dislocate_expansion@reddthat.com 2 points 6 months ago (1 children)

Is it really 5% in the UK?? In the US the reserver is now 0 and has been for years

[–] shortwavesurfer@monero.town 2 points 6 months ago

I think I heard it went to zero in 2020, and from what I understand, it has not gone back up, so I think it's still a zero reserve requirement, which is crazy. Also, just to let you know, your account shows up as a bot. If you are not a bot, there's a thing in your profile where you can turn that off.