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V I Spinmeisters Take Over The F T

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Up until now I had considered the coverage of the housing bubble by the FT quite impartial (when compared to the slavish blitherings of the BBC, NAEA, Nationlies, Shabbyfacts, etc). However, today on the front page an article about strong inflationary pressure is subtitled "Inflation fears may reinforce calls for UK rate cut". This statement upon closer examination is completely illogical; if the central bank feared higher inflation they would drain liquidity from the financial system, not add it (which is the net result on the money supply of a rate cut). Even the lowliest janitor at the FT is aware of this, so one can only conclude that some heavily-leveraged BTL journo is trying to console his profiteering brethren.


Front page:


Actual article: "UK Manufacturers Squeezed By Higher Costs"


Daragh Maher at Calyon bank said: “The fact that these higher costs are not making their way further along the production chain will provide the Bank of England with some comfort. The problem is that not all on the monetary policy committee will be convinced that this state of affairs can continue, and there will be a nervousness about the upside risks to inflation from these pipeline pressures.”

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  • 301 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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