Wednesday, May 26, 2010
Oecd
Times: UK ‘must raise interest rate this year’
The Bank of England must raise interest rates by the end of this year to keep inflation in check, the Organization for Economic Cooperation and Development warned today.
Posted by dill @ 11:55 AM (1212 views) Add Comment
5 Comments
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1. stillthinking said...
More than one way to skin a cat. As Lawson said,"Unemployment in the North is a price worth paying to control inflation".
But don't judge him too harshly on his lefty socialist views...
What do we see the current government on the verge of? Layoffs in the state sector and an across the board reduction in spending. This is inflation control. Whether it works or not dunno.
2. 51ck-6-51x said...
"""
The Bank of England is struggling to curb inflation
"""
- is struggling really the correct adverb? What have they done so far?
I think they decided it was too dangerous to risk rising interest rates too soon and to wait to see what the new government's plans were, they may well rise before the end of the year anyway however!
3. Cheekie Charlie said...
Not a sniff of this artical reported by the BBC.
4. Chapmania said...
"The interest rate has been at a historic low of 0.5 per cent since March last year. The OECD said that interest rates should start rising this year, and be at 3.5 per cent by the end of next year to keep inflation in check.
This would cause misery for hundreds of thousands of mortgage borrowers who would see their monthly payments soar. "
It will only be misery for those that purchased overpriced property. Everyone else with a mortgage have had it easy with the low interest rates. It will just be a return to their expected monthly payments for them.
5. paul said...
This is Mervyn's yellow card. He's been far too coy about the inflation threat for too long.