Friday, April 29, 2011
Base rate 4.75% …inflation up at 3.3%…. and ready to raise again … but not Merv in the UK!
Inflation in Australia unexpectedly jumped to 3.3%. Their base rate has been lifted many times up to 4.75% over the past couple of years. In the UK, were are here on a 'fixed forever' bank rate at 0.5% and much higher continuing inflation...not just a sudden jump. Merv and his chums sit on their hands to inflate all the debts away, and those at the bottom of the pecking order with their hard earned cash savings are to pay for those at the top playing casino. And what does the article on Australia say about their jump in inflation? .. 'it is increasingly clear interest rates are set too low.' The Bank of England has lost all credibility and it's clear that the government only rewards those at the top. By the way, the Â£ has dropped by 50% against the Aussie over the last 10yrs.