Wednesday, January 2, 2008

And they want to cut interest rates?

Oil hits record $100 a barrel

Oil has traded at $100 a barrel for the first time, prompting a drop in shares and a surge in gold prices. Violence in Nigeria, Algeria and Pakistan, the weak US dollar and the threat of cold weather [?] have all raised prices. The high price of oil will stoke inflation at a time when many central banks are trying to cut interest rates

Posted by little professor @ 11:26 PM (448 views)
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One thought on “And they want to cut interest rates?

  • also sold to rent says:

    It should be quite interesting to see how the US and UK cope with a slowdown in an inflationary environment. We have a fixed inflation rate target, the US doesn’t and there’s often debate over which system is better. The next couple of years could give us a good idea as to who should change to the other’s system.

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