but we have no room for manoevre this time. If we raise interest rates in order to promote growth, the housing market will suffer, if they were to be raised to around 9% (a reasonably historical average) then it will be a biblical collapse, who knows how much would be wiped off, 50,60,70,80 %
If other countries raise the rate at which we borrow currently around 2%, but historically around 7-8% then its game over, we would default immediately.
Bl00dy keyboard!!