Tuesday, November 16, 2010
”unexpectedly” – complete BOE propoganda (inflation is THE plan!)
Inflation rises unexpectedly to four-month high
'Official figures out on Tuesday showed annual consumer price inflation (CPI) rose to 3.2pc in October, more than a percentage point above the 2pc target in October. Analysts had expected it to hold steady at 3.1pc.'
Posted by hpwatcher @ 10:20 AM (1820 views)
10 thoughts on “”unexpectedly” – complete BOE propoganda (inflation is THE plan!)”
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mark says:
The MPC should all be fired, they clearly cannot do their jobs
hpwatcher says:
The MPC should all be fired, they clearly cannot do their jobs
I think they are doing their jobs, but it depends on whose best interest?
mark says:
hpw
I thought their remit was to control inflation and keep it below a set point?
suddenly they are now in control of printing, distribution and BS
righttoleech says:
It would seem that their role has changed. They obviously no longer target inflation, and what if they did? When sacked this sector of society is paid off in full and quickly secure further high paid employment at the expense of the mug rump.
peter says:
Their aim is to destroy savings at a minimum rate of 2% a year.
They are doing a bit better than expected right now.
Thanks MPC! Thanks Merv!
timmy t says:
Don’t worry chaps, when a loaf of bread costs a tenner and you have no savings left, at least house prices will seem reasonable…
sibley's b'stard child says:
“I thought their remit was to control inflation and keep it below a set point?”
In fairness Mark, they also have to keep it above a set point. If I recall, a letter from Merv to Chancellor would be required for every third month that inflation is 1% above or below the 2% target. Mind you, the possibility of the latter seems nigh-on impossible for the foreseeable.
mark says:
Mystic Merv
Predicts `Elevated’ U.K. Inflation After Rate Breaches 3%
Bank of England Governor Mervyn King said inflation will remain “elevated†throughout 2011 after it unexpectedly accelerated in October, forcing him to write the fourth letter of explanation to the Treasury this year.
really has Mystic Merv just figured this out
Crunchy says:
2. hpwatcher
I’m becoming prouder of you by the month.
How does it feel to be right so often. 😉
Keep an eye out for large black gold increases.
Lem says:
Best he saves that letter as a template.