Tuesday, November 7, 2006

Rates up twice by February

NIESR forecast shows that interest rates need to be raised now and probably again in February

NIESR - "We project that the output of the economy in the three months ending in October was 0.7% higher than in the previous three months. The economy continues to grow at just above trend. Our forecast shows that interest rates need to be raised now and probably again in February."

Posted by converted lurker @ 09:42 AM (401 views)
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4 thoughts on “Rates up twice by February

  • Shirley output is weaker and will spark growth fears. I read it on the BBC yesterday “weak data sparks UK growth fears” so it must be true and therefore there is no foundation to the NIESR data.

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  • perhaps they meant that the data was weak, as in it isn’t very good? :-).

    Also I thought that manufactoring would prefer an increase in rates to be more competative with international competition.

    …and don’t call me Shirley.

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  • I too trust the BBC in an almost religious ‘blind faith’ way. Everything they say is, as it were, ‘Gospel’. The BBC are the light. NIESR must be the devil to suggest such straightforward, logical and, dare I say it, correct interpretation of the data.

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  • Denzil, please … don’t call me Surely.

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