Monday, August 14, 2006

Euro interest rates to rise again ?

Germany's economy picks up speed

Germany's economy grew at its fastest rate for five years between April and June boosted by higher domestic demand....... Analysts said the data reinforced the chances of a European rate rise, as it follows a recent upturn in France.

Posted by waiting patiently @ 11:25 AM (569 views)
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2 thoughts on “Euro interest rates to rise again ?

  • Of course it is! Not having been dependent on a credit bubble to maintain ‘economic activity’, the German’s have maintained a manufacturing base producing high value products, which incidentally the Asian’s love, probably more than gold! Prior to the 1998 Tiger economies crash, Thailand imported the greatest number of Mercedes-Benz in the World, second only to the US and with import duties running at 110% for cars of below 2.4 litre capacity and 224% above 2.4L! When 70% of your GDP is based on consumer spending and that spending is based on an unsustainable credit bubble based on MEW and ever increasing lending liquidity ratios, expect the UK to contract suddenly and severely. The problem is that speculation in land has starved our own industries of capital and at the same time masked the fact that the UK is no longer a real industrial power. Just look at the trade deficit, £6Bn/month and counting! Expect Sterling to take a tumble, import prices rise, inflation to rise and interest rates to climb in the race to maintain currency value = HPC. Again no sense or even comment from the Enron Chancellor.

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  • Let us hope for an ECB rate rise at the end of the month – my Euro savings need a boost (really [email protected] returns).

    An ECB IR rise will “encourage” the MPC to raise UK rates too to avoid imbalances that may make Sterling the object of speculation.

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