Friday, April 29, 2011

This looks an interesting development

Euro zone inflation rises, points to higher ECB rates

"Euro zone inflation rose further above the European Central Bank's target in April, increasing the chances of an interest rate rise in June, despite a weakening of economic sentiment and household demand. Inflation in the 17 countries using the euro rose to 2.8 percent year-on-year this month from 2.7 percent a month earlier, the highest level since October 2010, when it was 3.2 percent.

Posted by alan @ 01:20 PM (1387 views)
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4 thoughts on “This looks an interesting development

  • Yes, go, go euro.

    “Bye, bye dollar.”

    Buy, buy euro.

    Can you see what it is yet? It’s taking you long enough.

    Le Crunch.

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  • Hmm. I think the tide of inevitability will bring a rate rise here in the summer.

    I’ve been pushing back on the inflation I’m seeing in food inflation for quite some time. But recently I’ve noticed my £100 per week shopping bill stubbornly refusing to go below £120 — and that’s without the obligatory bottle of whisky. (Not *every* week you understand — hic!)

    As much as the BoE wants our spending power to reduce there comes a point where the economy will suffer too much. And I’m putting a stake in the ground and saying that point happens over the summer (August/September time).

    Indeed once the psychology of a quarter point rise has been absorbed, there may be two or three more in quick succession. Controlling the reduction in spending via managed rate increases rather than the consequences of passive inflation rises could also be seen politically as the ‘prudent way’ to manipulating the economy.

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  • 1. dude said…’As much as the BoE wants our spending power to reduce there comes a point where the economy will suffer too much.’

    ~ Inflation = hidden taxation. There you go.

    And why are you still using that old fashoined now redundant word ‘prudent’?

    It may still be in the dictionary, but so is the word ‘fair’ and ‘treason’…….

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  • Dude, we need mass demonstrations and strikes not interest rate rises, but it ain’t gonna happen.

    The snake oil guys have the masses in their pockets now.

    “People we be treated in the way that they allow themselves to be.”

    ~ Oprah Windfrey

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