Thursday, Jun 07, 2007
Reports of higher wages
Telegraph Online: Pay rises fuel fears of growing inflation
Edmund Conway reports "Wages are rising at the fastest rate in six years, according to a new report, raising fresh concerns about inflation hours before the Bank of England's interest-rate decision." This follows the pattern of claim [for economic reality] vs counter-claim [for Fantasy Islanders] which appears in the mainstream press shortly before every MPC meeting. I wonder which will win?
Posted by talking rot @ 05:22 AM (115 views) Add Comment
4 Comments
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2. Orwell said...
As it says:
"...Wages are rising at the fastest rate in six years, according to a new report, raising fresh concerns about inflation hours before the Bank of England's interest-rate decision... It will worry the Bank's Monetary Policy Committee, which is due to decide whether to raise interest rates from 5.5pc at noon today..."
Ooooh Swervyn Mervyn oh dear oh dear its all ok for you to say you should have acted earlier to snuff out this speculative bubble, but ...
YOU DIDN'T AND THEREFORE YOU MUST ACT NOW!
It maybe then you will be able to prevent them rising any further than 7.5%
Oh dear, oh dear oh dear oh dear..
3. paul said...
Interesting that retail figures are not slowing at all, but rising albeit at a slower rate:
"The British Retail Consortium said shop prices rose 0.4pc in the year to May, slower than the previous month's reading of 0.8pc."
So retail prices are still rising. So retail is still strong.
I predict that the MPC will wake up briefly today, decide to do nothing and then go back to sleep for another month (to be jolted awake by alarming inflation figures next month, in accordance with the upward trend).
4. Orwell said...
I do hope that they don't put up interest rates today.
Mrs. Flange
Property Consultant