Thursday, Sep 28, 2006

Strange none of the VIs are reporting on this.

FT: By Chris Giles, Economics Editor

Error makes rate rise less likely

The Office for National Statistics on Wednesday admitted to an error that dramatically reduced the worry over inflation in the economy and makes a further interest rate rise less likely.

Posted by sam @ 11:52 AM (597 views)
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7 Comments

1. waitingfor hpc said...

yeah right. Just another Labour attempt to manipulate figures................ I work in exports in manufacturing price rises have WELL outstripped inflation. Average price rise on my goods 15% in 9 months!

Friday, September 29, 2006 09:11AM Report Comment
 

2. sovietuk said...

You couldn't write a more twisted dishonest script if you wanted to. A convenient 'error' just pops up in time to keep the plates spinning. No doubt there will more 'errors' at the end of October and November.

Friday, September 29, 2006 09:17AM Report Comment
 

3. denzil said...

Interesting that the error makes a rate rise less likely.
What's amusing is the BoE commissioned inflation figures made the ONS figures look too low anyway and now if not conveniently the figures were an over-estimate.
The person who found the mistake should be awarded a peerage.

Friday, September 29, 2006 09:27AM Report Comment
 

4. harold said...

Humm, to me this seems like more of a convenient recalculation than an 'error'.

Why doesn't the government just sack the MPC and take IR decisions back to the Treasury? They waste so much time arm-twisting. Hopefully Merv will be unimpressed.

Friday, September 29, 2006 10:16AM Report Comment
 

5. Surfgatinho said...

If the MPC base their decisions on the ONS statitistics alone they really are a bunch of utter muppets. I do actually give them slightly more credit than this!

Friday, September 29, 2006 11:08AM Report Comment
 

6. Ticktock said...

Everthing that Chris Giles writes is of the same type (and I mean absolutely EVERYTHING) Its worth reading his articles in the FT for comedy value alone. He franticly pops up time and again with 'black is white' and 'night is day' type spin whenever it is called for.
Ignore this, and ignore him. He is on the VI payroll for sure.

Friday, September 29, 2006 01:53PM Report Comment
 

7. indiablue19 said...

Leave it to the UK.... last developed country to pass age-discrimination laws in the work place; last developed country to abandon the abaccus in government offices.....

Friday, September 29, 2006 09:02PM Report Comment
 

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