Tuesday, March 4, 2008

Shouldn’t Mervyn raise rates too?

Australia increases benchmark rate to 12-Year high

"Australia's central bank increased its benchmark interest rate for the second time in four weeks and said there are signs the highest borrowing costs in 12 years are prompting consumers and companies to temper spending". "Core inflation, which excludes the most volatile items in the consumer price index, accelerated to 3.8 percent in the fourth quarter".

Posted by alan @ 08:45 AM (864 views)
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9 thoughts on “Shouldn’t Mervyn raise rates too?

  • He should…but he won’t; Gordon Browns public image demands that rates are cut. To hell with inflation.

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  • theboltonfury says:

    I agree with HP. I would be really stunned if anyone here actually genuinely thinks that rates will go any where but downward over the next few months. Never mind what they should do.. we are dealing with possibly one of the most inept economic brains of all time. How can we expect these cretins to do anything ‘prudent’. They will follow the VI bleaters

    The immediate future of rates doesn’t even warrant debate

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  • Wish he would put rates up. Last week, danish pastry cakes at the coffee shop were £1.10.

    This morning they are £1.40 !! To hell with cakes, more inflation at a whopping 27%.

    Cor blimey, come on guvnor King, sort this mess out :o)

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  • I agree with something that has been suggested on this site before – that Fat Gordon will destroy the GBP in preparation for entering the Euro. Hency why i have gone to oanda.com and sold teh GBP against the euro. Particularly as the intention is to emigrate to france soon. UK is doomed.

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  • inbreda, I agree that the UK economy is in big trouble, our government are less than useless and our curreny is knackered.

    Is France any better though?

    I fancy Canada myself.

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  • The grass is always greener on the other side of the fence (says the Frenchman who emigrated to England…)

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  • Any one hazard a guess whats gonna happen to the NZ dollar?

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  • planning4acrash says:

    Tom, interesting one, well, interest rates have to top there, as in Aus, it will be when their high IR’s finally cause recession. That will happen eventually IMHO. At which time, the Yen carry trade, which is already unwinding slowly on its own, will reverse, leaving the two vulnerable to precipitous falls, but these countries are at least dealing with internal inflation.

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  • Thanks P4C.

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