Sunday, Sep 17, 2006

Brown talks up economy but warns of rate rises

Sunday Times: Brown hint over new rate hike

Gordon Brown he will ..... warn of the risks from rising global inflationary pressures, and implicitly endorse further interest-rate rises from the Bank of England.

Posted by tom @ 05:44 PM (501 views)
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5 Comments

1. sirgoogle said...

Place your bets lads.

12:00 5th Oct 2006 - 5% - anyone ??

Sunday, September 17, 2006 08:08PM Report Comment
 

2. denzil said...

Obviously not yet time for a calming rate cut.

Sunday, September 17, 2006 08:31PM Report Comment
 

3. Sovietuk said...

well at least it will help the great sterling swindle of the early twenty-first century look a little less obvious

Sunday, September 17, 2006 08:34PM Report Comment
 

4. bidin'matime said...

"Alan Clarke of BNP Paribas expects base rate to rise to 5% in November, but thinks the Bank will start cutting rates next spring, ending 2007 at 4%, as a global slowdown and domestic economic weakness produce a sharp reduction in inflationary pressures. "

The double digit increase in the money supply over the last 12 months, not to mention inflationary pressures from abroad, should avoid any risk of a fall in UK inflation in the near future,.

Sunday, September 17, 2006 09:28PM Report Comment
 

5. inbreda said...

Yes, I too am glad that rates look set to rise, but more worryingly this is further evidence (as if it was required) that shows how much of a sham the BoE's 'independenec' is.

A cynical person might think that by making the BoE independent in rate setting decisions, but then being responsible for selecting its members, the Chancellor has cleverly distanced himself from any f****ups while retaining full control.

I don't acre whether the BoE governor ASKED Brown to insert the comments into his speech - if they're independent it shouldn't have been done.

The whole thing stinks.

Monday, September 18, 2006 11:29AM Report Comment
 

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