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Columns

Money is rotting

29 October 2022

9:00 AM

29 October 2022

9:00 AM

Punters and pundits alike reacted to rising mortgage rates in the wake of Truss’s mini-Budget with indignant horror. Leaving aside a market overreaction to fairly modest policy proposals, I wanted to tell aghast homeowners: ‘Well, what did you think was going to happen, people?’ In 2008, the plunging of central bank rates to nearly zero was super-weird.

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