Sunday, May 27, 2007
A rather crushing article that places all recent evidence together to reach a damning conclusion
Independent Newspaper: Hamish McRae: Inflation has gone global - and hiking our interest rates won't make much of a dent
"it (Data coming in) would certainly be consistent with another rate rise next month or the month after. Assuming that happens, expect some heat to come out of the housing market." (Quote)
Posted by pr @ 12:27 AM (350 views) Add Comment
2 Comments
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1. royston said...
The UK housing market has the life expectancy of a dodo.
2. Orwell said...
"...A further twist came from the latest OECD Economic Outlook, which noted that inflation had risen by more in the UK than in the main other developed countries. That does not of itself put much extra pressure on the Bank but it does show that outside economists feel we have a bigger problem than most other countries and it would certainly be consistent with another rate rise next month or the month after..."
Mmmmm we do all know this don't we?
So, Mr. Brown? 7.5% interest rates by next year?