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Will high interest rates cause a housing crash?
The Story
The Bank of England Put Interest Rates Up by Half a Percent
Last week the Bank of England put interest rates up by half a percent. It was much more than anybody expected, and economists had predicted. Why are they so high? Well, it depends slightly where you want to start the story. Some people would probably start with us moving off the gold standard. But I do think it's helpful to have a longer view in the sense that interest rates broadly with a few blips aside have been going down for about 40 years now since the 80s.
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