Don’t Understand Please Explain

[weecalf]

BOE are rising the rate acause people are buying too much .So if people have to borrow money to spend that’s not good .( leave Boris out of it a minute ).if people spend more does that not help the manufacturing industry.Does paying high train fares buying food not do the same thing .So people are on low wages can’t afford to buy is that better.Rates going up is saying we know that it’s not your money you borrowed it didn’t you .Soon now not going to be able to do a bet unless you can prove you can afford it .or I’m I right

[ichkeria]

The idea is primarily to control inflation.

So it’s a balancing act between that and not restricting the economy too much

[ichkeria]

You’d normally raise interest rates when the economy is strong, that’s not the case now.
It’s the same dilemma faced with pay rises: when inflation rises everyone’s poorer and wants a pay rise but that can stoke inflation in turn and so it’s a vicious circle which rate rises aim to break