Niño Becerra makes a prediction about interest rates from January 2024

The economist Santiago Niño Becerra, one of the few experts who saw the 2008 crisis coming, has made an announcement on interest rates that will delight any mortgage holder.

The economist has predicted that from January 2024 they will begin to fall. In an intervention on Radio Euskadi, the expert has assured that, in his opinion, raising interest rates has been a mistake. “The inflation that we currently have in the world is supply inflation and it is not combated by raising interest rates, it is combated in other ways,” he asserted.

Niño Becerra has indicated that this solution has been done “because it is the easiest way” and has added that “in the end prices will end up falling because the offer will be further restricted, with which prices will fall”. In addition, he has pointed out that “as it turns out that supply inflation depends so little on interest rates, it takes a long time to see the impact that the increase in rates has on prices.”

“There has been talk that it will take between 7 and 10 months to see the impact. Mrs. Lagarde already said last Thursday that there may or may not be another rise in September. Many experts think that it will happen, we can reach 4.50% and from there, in theory, after two, three, four months, when it is seen that prices do not rise any more, they could start to go down,” he explained in the radio space, and has qualified that all this will be from January.

“What happens is that we imagine that this winter is cold, there is a supply problem, etc.. This will again be negative in the face of inflation. Then the drop in interest rates would be delayed,” he said.