Monday, January 10, 2011

Hot on the heels of the Halifax housing data……….

Cameron Warns Governor King Has `Extremely Difficult Task' on U.K. Rates

U.K. Prime Minister David Cameron said recent levels of inflation have been “concerning” as he offered Bank of England Governor Mervyn King his support in the “extremely difficult task” of setting interest rates. “That is what the Bank of England have to get right,” Cameron told the BBC’s “Andrew Marr Show” yesterday. “I’m in no doubt the inflation is extremely harmful, it destroys people’s savings. We don’t want to go back to having an inflation problem as we had in the past.”

Posted by jack c @ 11:16 AM (2355 views)
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13 thoughts on “Hot on the heels of the Halifax housing data……….

  • sibley's b'stard child says:

    I can’t believe we are a few short months shy of two years of ZIRP (well, in all but name). Madness. This just looks like PR from Cameron to help assuage electorate fears. More of the same from the MPC this month, then.

    Still, an extremely difficult task; make no mistake about it.

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  • titaniccaptain – I’m not sure this info is made available (but stand to corrected) – MW might know as the Nationwide index is his ‘favourite’

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  • sibley's b'stard child says:

    March, eh Jack? I could live with that. I would like to think the pyschological impact would be most significant despite a piddling quarter of a percentage point, no doubt. Hell, even the wife knows that rising IRs will be the tipping point for HPC…

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  • sibley’s b’stard child – I dont anticipate any movement this week however I do think a small rise in March 2011 is a distinct possibility (ignore my previous post – the odds relate to 2010 which I didnt pick up on from the oddschecker link) and I agree any rise will have a pyschological impact.

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  • jack [email protected]

    So inertest rates to go up after July and HPC of 10% plus is a 100/1 double, I bet they won’t take combo bets though, I will look into it.

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  • wdbeast – unfortunately they are old odds (which I picked up from oddschecker as being 2011) – sorry for the confusion

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  • titaniccaptain – it must be Labour thinking that the rate ought to be 21% !

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  • mark wadsworth says:

    Alan Johnson is actually pretty spot on.

    Headline wages £100. Employer pays £12.80 on top of that and Employee pays £11.00 out of that. So total wage bill = £112.80 and total NI (Employer’s and Employees) = £23.80. £23.80 divided by £112.80 = 21.1%.

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  • MW – maybe Mr Johnson would have a lot more credibility if he had an ear piece with you giving him the answers to the questions ! – he clearly had no idea that (at the highest threshold) the employers component of NI was 12.8%

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  • mark wadsworth says:

    Oh yes, and don’t forget that the pol’s are busily pretending that Labour wanted to hike NI by 2% and the Lib-Cons shelved that plan and hiked VAT by 2.5%, as it happens the Lib-Cons are doing BOTH.

    From 5 April, Employee’s NIC up from 11% to 12%, Employer’s NIC up from 12.8% to 13.8%.

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  • MW – off topic but has Stuart Wheeler nicked your job?

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