Wednesday, Nov 11, 2009
Bank talks up hopes of strong recovery
Timesonline: Bank talks up hopes of strong recovery
Sorry chaps, Good News!
Posted by smugdog @ 12:58 PM (547 views) Add Comment
6 Comments
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1. cat and canary said...
Recovery is good news,
"the Bank stuck to a previous prediction that economic growth would return at the start of next year but raised its forecast for the speed of recovery."
...am I missing something, or if your GDP minima registers less than the BoE expected as we all know, then surely it recovers faster also? Seems like simple systems theory to me?
There's always two ways to spin a piece of data ;)
2. fallingbuzzard said...
The GDP figures still look absolutely terrible when you net off the £200bn of government spending funded by printing money. As far as I'm concerned and too my shock, the GDP forecast figures for 10/11 imply further £150bn of QE next year or an unbelievable pick up in private sector output.
3. jack c said...
smugdog - check the title "Bank of England TALKS UP hopes of strong recovery"
comments section makes interesting reading
4. clockslinger said...
Bloody hell! 3% base rates! That should do it for anyone accustomed to managing with a variable mortgage taken out at 0.5% base rates.
5. growler said...
@ Smug
You've given yourself away. Anyone who reads and understand that article - who is a bull and also intelligent - would really write "sorry chaps, good news"
C'mon, fess up. You're a closet bear ;-)
6. Lucas said...
If BOE seriously thinks we are going to get this kind of growth then it must start raising rates pretty sharpish. we all know that rates impact with a lag. Sounds like it's doing what the government wants it to do and not what is right for the medium to long term benefit of the country. So much for an independent central bank. Once it loses it's crediability that's it, the damage is done. No-one will trust labour ever again on the economy or on taking politics out of the economics. Remember high inflation of the 70s and 80s? Well, it seems like it will back within a couple of years, and it will take interest rates above the 6% peak we saw in the last cycle to bring it under control. I feel like immigrating. China seems like a good place.