2. Maggot said...

any one remember last january all ,predicted a rate cut in march to support production.there was no rise in march.since then the momentum in intrest rate rises has grown stronger and stroger.now infalation has risen to 3.1%.this being the corosponding time to a suprise fall last year "just before the local elections."we are informed that inflation will drop back to 2% later this year.this is based on the tinker bell theory that ,"if i believe something enough it will happen."here reality bears more of a crocerdile effect of reality .ie the momentum in inflation is up,fuel prices are rising and the threat of increase in pay demands and the threat of strikes even by essential workers looms large.this is all on a back ground of american intrest rates needing to come down to avoid recession,but being unable to do so because of the threat of inflation ,