Friday, June 6, 2008

Dark Times

City stunned by European Central Bank's warning on eurozone rates

there were fears yesterday that the Bank of England could raise interest rates after the European Central Bank issued a surprise warning that surging inflation could force it to lift eurozone rates as early as next month. The ECB's abrupt move to a state of high alert over inflation stunned markets and triggered a scramble by the City to reassess the outlook for interest rates on both sides of the Channel. Both the Bank and the ECB held rates yesterday despite worsening economic prospects, spurning pleas for action to buoy growth as they continued their fight to quell rising inflation.

Posted by housebear @ 09:00 AM (1525 views)
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2 thoughts on “Dark Times

  • whiteknight says:

    Is it my imagination or is every other headline that the City is stunned.

    When i walk back into London i expect to see people wondering about everywhere with a dazed expression.

    Not to worry though – these people who are in a constant state of being stunned by every obvious development will soon be on an oversight committee overseeing themselves. This will reduce their problems and they can spend less time being stunned.

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  • planning4acrash says:

    The banks have been successfully bailed out and are all now in safe havens, oil, gold, etc. and, central banks are now preparing for the new USA presidential election, after which, they will plunge the world into a depression with crucifying IR’s and deflation.

    This will be the model of world government, if the nwo get their way. The central banks don’t even hide that they are working in unison now.

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