Friday, Jun 29, 2007
M4 money supply continues to accelerate
Reuters: Strong housing data helps pound rise
The central bank said its preferred M4 money supply measure rose by a monthly rate of 1.2 percent in May, with the annual growth accelerating to 13.9 percent.
"Given that Bank of England deputy governor John Gieve this week highlighted excessively strong money supply growth as a significant risk to medium-term price stability, the data clearly bolster the case for interest rates to be lifted by a further 25 basis points to 5.75 pct next Thursday," Global Insight economist Howard Archer said
Posted by little professor @ 06:03 PM (162 views) Add Comment
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