Thursday, March 13, 2008

70% unsatisfied with BoE about not controlling inflation

U.K. Inflation Outlook Highest Since at Least 1999

"Today's report also showed waning approval for the central bank among consumers. A net 30 percent of respondents said they were satisfied with the way the bank is ``doing its job to set interest rates to control inflation,'' the lowest result since May 2000." Economy to grow less than rate of inflation this year.

Posted by happyrenterz @ 10:36 PM (701 views)
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5 thoughts on “70% unsatisfied with BoE about not controlling inflation

  • “Economy to grow less than rate of inflation this year”; and, “slower economic growth will help contain inflation”; surely that means we are in a RECESSION.

    Like the positive spin though, makes you feel great to be British.

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  • housing carbuncle says:

    The UK has been in recession for several years. But if you control the department that produces the statistics you don’t have to worry about a recession because it will never happen (officially). If you want the true picture just look around you and speak to your friends. You have been lied to.

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  • it_is_going_with_a_bang says:

    My council tax went up by 4.9% again. Now £1,429.74 for a 2 bedroom property. What a disgrace.
    2% inflation my a***.
    I am having a hard time remembering anything that isn’t costing at least 5% pa more.
    Pegging their new housing program on RPI is hysterical. It seems when this government wants money back from us it wants a RPI + figure. Council tax basically at 5%.
    The big problem for those idiots is that interest rates were already low. The reductions being made don’t even keep up with the additional costs of living so they are having almost no effect.

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  • Chiefcashier says:

    Whoops, bit of a clunking mistake in your headline, Happyrenterz. The story actually says that a NET 30% of respondents are satisfied. In other words, 44% are satisfied and 14% are unsatisfied, making for a positive differential of 30 percentage points. Full figures here:
    http://www.bankofengland.co.uk/statistics/nop/inflationattitudesfeb08.xls
    (Question 14)

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  • Did anyone else hear Darling promise to keep interest rates low when he was speaking in Parliament on Budget Day? Doesn’t augur well for inflation control does it?

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