Wednesday, Aug 13, 2008
August 08 Inflation Report - including webcast
Bank of England: Inflation Report - August 2008 (direct link)
+ CPI Projections
+ GDP Projections
+ Q & A section in webcast
Posted by jason @ 11:05 AM (541 views) Add Comment
2 Comments
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1. crash bandicoot said...
My take on this is that when everything was stable the predictions were quite valid. Now everything has changed they don't have a clue what is going to happen in the future.
2. voiceofreason said...
I had a look at the inflation report section and the economic growth prediction charts.
The "hockey stick" graph is alive and well. We see this on every coporate presentation in my industry.
It is something about human nature. We extrapolate the present (these graphs do this out to 2009) then we insert what we want to happen (the upswing aka hockey stick around mid 2009).
The only thing that can save house prices mid 2009 is if lenders can start lending the same volume of money as they were doing in mid 2007. That means a re-starting of the debt markets. This is the only way I can see mid 2009 onwards growth occuring.
Can these debt markets reopen by mid 2009 ?