Wednesday, Jun 18, 2008
Ex MPC members take on the BoE current inflation position
Timesonline: Inflation: we can pay now or later
From The TimesJune 18, 2008
Inflation: we can pay now or later
The Governor of the Bank of England thinks he can hit his target painlessly. He is wrongWillem Buiter
Here is the bad news: inflation, which in May reached 3.3 per cent, is above the Government's 2 per cent target and rising. The Bank of England expects it to top 4 per cent this year. Inflation expectations are also above target and rising. The Bank's own survey puts public perception of current inflation at 4.9 per cent (against 3.9 per cent in February) and its expectation of inflation a year ahead at 4.3 per cent against 3.3 per cent in February).
Posted by flintster1994 @ 12:43 PM (590 views) Add Comment
3 Comments
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1. icarus said...
Less pain now, more pain later. Sounds about typical. Isn't that what PPP and PFI are about?
2. Fancypants said...
I saw Buiter on News 24 yesterday. He was just about the only "expert" called in that spoke with sense, and understood the monetary root of these problems.
3. cornishman said...
"Less pain now, more pain later" - after the next election?
Independent BoE - my @rse