Ash4781 Report post Posted May 11, 2011 The BOE inflation report is due today. It's expected to raise near term inflation, while lowering future growth. Get ready for some interesting fan charts! http://uk.reuters.com/article/2011/05/10/markets-sterling-close-idUKLDE7491ZC20110510 Quote Share this post Link to post Share on other sites
richc Report post Posted May 11, 2011 The BOE inflation report is due today. It's expected to raise near term inflation, while lowering future growth. Get ready for some interesting fan charts! http://uk.reuters.com/article/2011/05/10/markets-sterling-close-idUKLDE7491ZC20110510 Why wait for the press release? We all know that inflation will be forecasted to be 2.0% in 18 months from now. Quote Share this post Link to post Share on other sites
mattyfc Report post Posted May 11, 2011 The BOE inflation report is due today. It's expected to raise near term inflation, while lowering future growth. Get ready for some interesting fan charts! http://uk.reuters.com/article/2011/05/10/markets-sterling-close-idUKLDE7491ZC20110510 Considering the BOE forecasts for the last 3-4 years have been completely wrong not sure why anyone thinks this one will be different. My view would be future growth will now be potentially higher than it was in 2007. The boom was always unsustainable, a crash was inevitable. Now we have to focus on other industries to drive growth which will likely lead to a much more sustainable future economy and higher long term growth. Quote Share this post Link to post Share on other sites
exiges Report post Posted May 11, 2011 The disturbing thought is that Merv expects inflation to peak at 5% Now given he's always going to play down the situation, I wonder what he really thinks it'll peak at.. 6% 7% ? Nice for those RMT workers on RPI + 0.5% Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted May 11, 2011 Live press conference just starting. Link available from BoE home page. With CPI so much above target Merv has been keeping a low profile recently. Quote Share this post Link to post Share on other sites
The Knimbies who say No Report post Posted May 11, 2011 (edited) Live press conference just starting. Link available from BoE home page. With CPI so much above target Merv has been keeping a low profile recently. I've only managed to read as far as halfway down the 'Overview' page before the first *facepalm* occured. Edited May 11, 2011 by cheeznbreed Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted May 11, 2011 Latest fan chart: Quote Share this post Link to post Share on other sites
The Knimbies who say No Report post Posted May 11, 2011 Latest fan chart: looks familiar.. Quote Share this post Link to post Share on other sites
exiges Report post Posted May 11, 2011 Listening to it live. Paul Mason from the BBC said to Merv.. "As we all expected, the figures are worse than you predicted" Priceless. Quote Share this post Link to post Share on other sites
Pent Up Report post Posted May 11, 2011 Latest fan chart: Phew... That's a relief inflation will be bang on 2% soon... Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted May 11, 2011 Bank assuming gas prices will rise 15% in summer, and electricity prices 10%. Quote Share this post Link to post Share on other sites
thecrashingisles Report post Posted May 11, 2011 Bank assuming gas prices will rise 15% in summer, and electricity prices 10%. What about the important things like tablet PCs? Quote Share this post Link to post Share on other sites
Reck B Report post Posted May 11, 2011 Latest fan chart: looks like the ariel view of a worm being run over by a steam roller Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted May 11, 2011 Merv claims inflation target is symmetrical – if energy and import prices collapsed in the short-term then the MPC would 'look through' such movements. I'm calling bull$hit on that one. Quote Share this post Link to post Share on other sites
Ash4781 Report post Posted May 11, 2011 (edited) Latest fan chart: Thanks, is that over 2% for 3-4 years? edit: oh plus the 2007/8 blip Edited May 11, 2011 by Ash4781 Quote Share this post Link to post Share on other sites
Ash4781 Report post Posted May 11, 2011 (edited) Merv is getting a little angry with regards to the question on rate rises. edit BBc market data Gilts and Bonds http://www.bbc.co.uk/news/business/market_data/gilt/default.stm Edited May 11, 2011 by Ash4781 Quote Share this post Link to post Share on other sites
General Melchett Report post Posted May 11, 2011 I predict the words 'surprising', 'unforeseen' 'short-term' and most importantly 'remain vigilant' will appear.., Quote Share this post Link to post Share on other sites
Pent Up Report post Posted May 11, 2011 Merv claims inflation target is symmetrical – if energy and import prices collapsed in the short-term then the MPC would 'look through' such movements. I'm calling bull$hit on that one. But surely that is what they want? If energy and import prices don't collapse then inflation won't come back down to target, to me it looks like they are gambling on this happening and this why they are holding off on rates. Quote Share this post Link to post Share on other sites
rantnrave Report post Posted May 11, 2011 looks like the ariel view of a worm being run over by a steam roller Quote Share this post Link to post Share on other sites
billybong Report post Posted May 11, 2011 (edited) The latest fan chart. If they're not careful the BoE will start to lose credibility Give the job to someone who'll take it seriously. Edited May 11, 2011 by billybong Quote Share this post Link to post Share on other sites
The Masked Tulip Report post Posted May 11, 2011 Some City chap was just interviewed on BBC Radio Wales and he said that UK food inflation may well be over 10% this Summer, with general inflation likely going over 5%. This will not end well. Quote Share this post Link to post Share on other sites
Ash4781 Report post Posted May 11, 2011 Some City chap was just interviewed on BBC Radio Wales and he said that UK food inflation may well be over 10% this Summer, with general inflation likely going over 5%. This will not end well. Yeah standard of living fall for many is looking like it will accelerate. The cost of saving the financial system? I'm in the process of buying. I'll need to get some seeds in the ground, and chickens in the shed. Quote Share this post Link to post Share on other sites
ScrewsNutsandBolts Report post Posted May 11, 2011 Listening to it live. Paul Mason from the BBC said to Merv.. "As we all expected, the figures are worse than you predicted" Priceless. Here from 12:18 onwards, just a shame the camera didn't cut to Merv's face for the comment. http://streamstudio.world-television.com/CCUIv3/frameset.aspx?ticket=117-118-9568&browser=ie-9-0-0-10-0&target=en-default-&status=ondemand&stream=wm-video-300 Quote Share this post Link to post Share on other sites
Quicken Report post Posted May 11, 2011 Thanks, is that over 2% for 3-4 years? edit: oh plus the 2007/8 blip Yes, quite ridiculous. They should be targeting 2% average CPI if that is the target, not hitting 2% at some mystical point in the future. Q Quote Share this post Link to post Share on other sites
Game_Over Report post Posted May 11, 2011 As someone else said - if the upper prediction is 5% You can bet that it will be nearer to 7% The RMT wage deal is the first sign of the start of a wage/price spiral and must be worrying for the BOE. Plan A isn't working and there is clearly no Plan B. Quote Share this post Link to post Share on other sites
