Mpc Unaware Of Cpi Figures At Last Meeting!

[OzzMosiz]

The cost of borrowing has been pegged at 4.5% since August last year, but central banks in the United States, Europe and Japan have all been forced to raise interest rates this year to curb rising inflation.

The MPC was not aware of the new figures when it chose to keep interest rates on hold two weeks ago. It will consider them when it votes on the cost of borrowing in early August.

[AteMoose]

for a group that is supposed to set interest rates using inflation figures isnt it a bit unfortunate they are unaware of the coming Inflation figures from the government!

[Guest mattsta1964]

The MPC was not aware of the new figures when it chose to keep interest rates on hold two weeks ago. It will consider them when it votes on the cost of borrowing in early August.

Not aware!!!!!!!!!!!!!!!!!!!!!!!!

And I'm a banana

[OzzMosiz]

for a group that is supposed to set interest rates using inflation figures isnt it a bit unfortunate they are unaware of the coming Inflation figures from the government!

It's a freaking disgrace!!!

[mikthe20]

If they're going to raise rates at all this year then August must be the prime month - so many people on holiday means they are less likely to hear the news.

[OzzMosiz]

If they're going to raise rates at all this year then August must be the prime month - so many people on holiday means they are less likely to hear the news.

Good point

[Guest Alright Jack]

IR, CPI, RPI, RPIX,...

Still watching the show game. Enjoy.

[jp1]

Is this a joke - is there a link?

[Jason]

Is this a joke - is there a link?

http://www.itv.com/news/britain_6da21bc424...20a3d9e49e.html

I did point it out in another thread.

[gfromls]

It's a freaking disgrace!!!

tis true

[RichB]

they can hide a 2% jump in with the 3rd world war coming to a tv near you this august...

[I Told You So]

They definitely get a glimpse of the CPI, its just a bad journo at the ITV.

[jp1]

They definitely get a glimpse of the CPI, its just a bad journo at the ITV.

Yes, I think it ought to read, they were unaware of the latest figures, which as you say is rubbish, they do know what's coming in next set to be released, which makes their indecision even more exasperaing

I like the into though :-)

An interest rate rise looks possible after soaring utility bills drove inflation to its highest rate since Labour came to power in 1997.

'Labour' and 'inflation' - the two words go together like bread and butter

Edited July 18, 2006 by jp1

[Realistbear]

It turns out that the inflating items were unimportant so need for the muppetts to know:

http://uk.biz.yahoo.com/18072006/94/gilts-...-inflation.html

Jonathan Loynes, chief European economist at Capital Economics said that the consumer price inflation figures ”were undeniably disappointing.” But he pointed out that that two thirds of

the rise in headline inflation was due to to food and energy prices, which “softened the blow considerably."

Had something important gone up in price then I suppose it would have been more important for Gordon's team to know about it.*

______________________

*

[OzzMosiz]

They definitely get a glimpse of the CPI, its just a bad journo at the ITV.

Was also reported on Yahoo news, though it may have been picked up from one report!

[MarkG]

But he pointed out that that two thirds of the rise in headline inflation was due to to food and energy prices, which “softened the blow considerably."

Yeah, because people don't need either food or energy. We can all stop eating and pretty soon after that we'll be dead, so we won't need fuel either.

I still have a hard time coming to terms with just how insane the world has become in the last decade or so.

[Realistbear]

Yeah, because people don't need either food or energy. We can all stop eating and pretty soon after that we'll be dead, so we won't need fuel either.

I still have a hard time coming to terms with just how insane the world has become in the last decade or so.

I agree 100%. IMO this whole "Miracle Economy" thing is a grand illusion thrust upon a confused and bewildered public that has endured a decade of spin, manipulation and exploitation. The level of irresponsibility practised by the NuLabour morons beggars belief. They have saddled the economy with 1.2 trillion pounds of debt by fostering a HPI-MEW culture with a no-holds-barred attitude toward financial prudence.

They have allowed manufacturing, retail and finally services to collapse while conning the public into believing that ever rising house prices are an actual means of production. The deteriorating trade balance, massive government deficit and rising unemployment are the result of of a government blinded by power and self-preservation. That Gordon can deny inflation exists and order the BoE to do nothing while the rest of the world takes steps to prevent inflation from tearing their economies apart is economicaly criminal.

10 years in power has made them all delusional and unresponsive to the country's needs. THey are all a bunch of John Precott's and its time for them to go.