Tuesday, August 14, 2007
BIG NEWS! – Does anyone believe these figures anymore?!?
The stitch-up is going well for the BOE!!! The U.K.'s inflation rate unexpectedly dropped by the most in five years to settle below the Bank of England's target, weakening the case for further interest-rate increases. Consumer prices rose 1.9 percent from a year earlier, the least since March 2006, the Office for National Statistics said today in London. The reading compares with June's result of 2.4 percent and the 2.3 percent median forecast of 33 economists in a Bloomberg News survey. Prices dropped 0.6 percent on the month, the most since January.