Monday, May 19, 2008

Hear from the man who is ultimately setting the UK base rate

Jean Claude Trichet warns of 'very significant market correction'

"acting to restrain rampant inflationary growth was the best way to ensure stability and job security. “Price stability and credibility in price stability in the medium term is the best way to have a high level of sustainable growth and sustainable job creation,” he told the BBC"

Posted by confused76 @ 11:13 AM (825 views)
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3 thoughts on “Hear from the man who is ultimately setting the UK base rate

  • Totally agree – as does anyone not dependent in property prices. And everyone knows it, although not everyone will acknowledge that 😉 I know people in India that describe the country as “no longer a low-cost alternative”. This will continue. China is not far behind. When that goes, all those big ticket items from unrecognised own labels that were filling shelves at the likes of B&Q, Homebase, Currys, et al will end up priced at the other brands. Then what? We’ll no longer be importing deflation, we’ll be importing inflation. This will add to our own inflation which has been “hidden” from Government stats – and then UP will go the interest rates which is what I think the ECB will have to do soon.

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  • Still Renting says:

    How exactly is Trichet “the man who is ultimately setting the UK base rate”?

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  • Housepricecrashuk says:

    A credit market that follows the contracting US and an interest rate policy that follows the inflation fighting European market; An interesting combination that could bring about 50% falls in house prices over the next 3 years.

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