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Merv's Quarterly Report To Be Released Today

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http://www.telegraph.co.uk/finance/economics/interestrates/8326755/Inflation-Report-Mervyn-King-needs-something-special-to-calm-market-nerves.html

Inflation Report: Mervyn King needs something special to calm market nerves
Growth and prices. If the Bank of England’s quarterly Inflation Report is reduced to its essence, that’s what is important.
On both counts, the news today is expected to be bad.
On growth, the Bank will revise down its central forecasts for the current years, from 2.6pc to around 2pc by some estimates. On inflation, the short-term outlook will be higher than expected – perhaps as high as 5pc in the coming months compared with the Bank’s 2pc target.
Neither, though, will be terribly surprising. The Bank’s GDP forecast is out of step with almost all peers and will inevitably be revised down following the surprise economic contraction in the last quarter of 2010. In addition, the Governor, Mervyn King, has been warning for some time that inflation will be even higher above target than expected – due to commodity and food price rises.

Anyone know when the report will be reales so we can watch market reaction?

No doubt this unexpected news will send stocks and Sterling up so get your longs in folks! :lol:

In reality--the economy is going down as jobs are ashed and people have less to spend to make the econonmy grow. The downward spiral has gripped the economy and we are about to pay for the Brown bubble. Stagflation is the worst possible case as at least deflation would have robbed the banks and sent property prices down like a Japanese Zero with a sidewinder up its rear end.

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I do hope that Freetrader starts another great thread - perhaps called "Now and Then" - which shows the BoE's fannying about charts from 2, 1 and 0 years ago.

It should brighten everyone's day,

Peter.

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Link for the live webcast at 10.30 is now available on the BoE’s home page. They’re now using Flash player for those of you who hadn’t used to be able to view it.

Should be the usual comedy show, but it will be interesting to see whether Merv is put under more pressure by the journos this time. Over the years he’s been quite cutting with many of them, with a definite air of “I know what I’m talking about and you don’t.”

I certainly expect him to be on the defensive, but he’s usually very good in these situations.

Edit: typo

Edited by FreeTrader

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In reality--the economy is going down as jobs are ashed and people have less to spend to make the econonmy grow. The downward spiral has gripped the economy and we are about to pay for the Brown bubble. Stagflation is the worst possible case as at least deflation would have robbed the banks and sent property prices down like a Japanese Zero with a sidewinder up its rear end.

This is the UK, everyday life here is the 'worst possible case.' Brits only seem happy when they are fooking over the next guy, be it for housing, on the road or biding for 2nd hand shite on eBay.

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I do hope that Freetrader starts another great thread - perhaps called "Now and Then" - which shows the BoE's fannying about charts from 2, 1 and 0 years ago.

It should brighten everyone's day,

Peter.

You mean like this one I've done?

http://www.housepricecrash.co.uk/forum/index.php?showtopic=157947&st=0&p=2860463&fromsearch=1entry2860463

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This is the one from the Feb report two years ago. The dotted line was their forecast for right now:

IR_feb09_cpi_fan.gif

so, the inflation we have now was off the chart.

why is this man in a job?

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Latest chart:

inflationfan0211.gif

So basically what he is saying is that even if interest rates are moved to 1.25% by the end of this year there is good chance we will still se near 6% CPI?!

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BBC headline on main new page says Mervyn King expects inflation to remain above 2% target well into 2012. No story to back up the headline yet. So he's not planning to raise rates any time soon, then.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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