Before I type anything else, let me say this I'm fully aware no one on here, probably no one anywhere, knows where interest rates are going to go over the coming years. So replies like 'how should I know???' wouldn't be in the spirit of this thread I'm simply interested to know what peoples views are on the following.
The bank rate hasn't risen above 1% since February 2009, so we've had well over a decade of (very) low rates. This has obviously started to change over the course of 2022 with the rate hitting 3% today. In the decade prior to the 2008 crash, rates hovered around 4-7% and latterly rarely went above 5%.
What, in your opinion, will happen to interest rates over the coming decade? Do you think we'll see them return to pre 2008 levels of anywhere between 3-7%, or do you think there's a risk of rates going above 10% as they did in the 1980s?
From what I can gather, most people in the know say the decade of low rates was never intended to last that long, it was a temp measure due to 2008 goings on. So based on this, surely the good times (not for savers right enough) have gone, at least for the foreseeable?
The bank rate hasn't risen above 1% since February 2009, so we've had well over a decade of (very) low rates. This has obviously started to change over the course of 2022 with the rate hitting 3% today. In the decade prior to the 2008 crash, rates hovered around 4-7% and latterly rarely went above 5%.
What, in your opinion, will happen to interest rates over the coming decade? Do you think we'll see them return to pre 2008 levels of anywhere between 3-7%, or do you think there's a risk of rates going above 10% as they did in the 1980s?
From what I can gather, most people in the know say the decade of low rates was never intended to last that long, it was a temp measure due to 2008 goings on. So based on this, surely the good times (not for savers right enough) have gone, at least for the foreseeable?