English & Interest Rates
Monday 16th March 2026
So, we have another war in the Gulf brought on by a ‘disconnect’ between the USA and a Middle Eastern dictatorship.
This time, our own Prime Minister (Steer Clear S’Kier) seems to stand against the Americans rather than with them, unlike that war-monger Blair who ploughed in alongside Bush2 on a (known) lie.
Most will be delighted to see the mullering of the murderous Mullahs and hope for freedom for the Persians and other peoples of Iran. However, it comes at clear human cost and we must all pray peace returns very soon.
The world economy is already taking a hit. Higher energy costs fuel inflation forcing interest rate increases.
UK mortgage lenders are already ‘adjusting’ their products, i.e. charging more to borrow.
In Prime Central London (PCL) property prices are already down 15-20% from 2022 when interest rates rose in response to the Russian invasion of Ukraine. Where did this stat come from, can we say as reported by…
(As an aside, it is annoying to see Trump lifting sanctions against Russia now, pouring funds into their war effort.)
Anyway, back to London property. The increase in borrowing rates will likely be a dampener on prices. However, the bigger issue will be continued uncertainty if the war goes on for a long time.
On the flipside, Dubai and The UAE don’t seem quite as attractive as they did. We may see fewer people flee our onerous taxes and dire Labour Government for such a precarious location.
The question in my mind is why would anyone, British or otherwise, locate themselves in London versus any other European capital?
Our taxes, bureaucracy and government ineptitude match anything Europe can offer.
The reason they might, and should, is English.
By a quirk of history (The Empire) English is still the main international language of business. Others are catching up, like Chinese and Spanish. But not French or Italian or German.
Unless you can tell me otherwise, London is still the best city in Europe for people from around the globe to feel welcome and settle in.
Until next time…
PB
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