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Rates Too Low, Bank Deputy Says |
| June 27th, 2007 under General. [ Comments: none ]
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Source: BBC
Rates too low, Bank deputy says
Bank of England
The Bank is expected to raise rates at its next meeting
UK interest rates are too low and are helping to drive demand for loans and credit, Sir John Gieve, deputy governor of the Bank of England, has said.
Speaking in Guildford, Surrey, Sir John explained why he was one of four rate setters who voted to raise interest rates at the Bank’s last meeting.
Analysts are forecasting that the Bank will raise interest rates to 5.75% next week, after holding them in June.
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May: Cpi Down To 2.5%, Rpi At 4.3% |
| June 12th, 2007 under Inflation Stats. [ Comments: none ]
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Source: http://www.statistics.gov.uk/cci/nugget.asp?id=19
CPI annual inflation – the Government’s target measure – was 2.5 per cent in May, down from 2.8 per cent in April.
The main downward pressure on the CPI annual rate came from average gas and electricity bills which continued to fall this year, but rose a year ago.
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King issues warning on interest rates |
| June 11th, 2007 under General. [ Comments: none ]
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Source: www.ft.com
King issues warning on interest rates
By Chris Giles, Economics Editor
Published: June 11 2007 21:33 | Last updated: June 11 2007 21:33
Borrowers should expect higher interest rates by the end of the year unless consumers and companies slow spending, and signs of inflationary pressure fall back, Mervyn King, Bank of England governor, signalled on Monday
The bank chief, speaking to the Welsh CBI, gave financial markets no reason to doubt their expectations that interest rates will rise to 6 per cent by the end of the year, even though the bank kept rates on hold at 5.5 per cent last week.
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Families stretched by inflation |
| June 9th, 2007 under General. [ Comments: none ]
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Source: The Telegraph
By Edmund Conway, Economics Editor
Last Updated: 2:31am BST 17/05/2007
# Comment: Headline inflation down but the pain is getting worse
# Lower fuel bills push inflation down towards target
# Official: inflation figure isn’t trusted
# Work out your own inflation rate [Excel file]
Many families are experiencing inflation of more than twice the official rate published by the Government, according to figures produced for The Daily Telegraph by Capital Economics.
There is a massive disparity between the living costs experienced by different types of households, with pensioners and middle-class families facing price rises of more than 7pc, the figures show.
Capital Economics CPI and RPI inflation, April 2007
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Time for Mervyn King to admit rates must hit 6% |
| June 9th, 2007 under General. [ Comments: none ]
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Source: The Business
By : Bill Jamieson
30/05/2007
In WHAT was billed as a significant speech about the future conduct of UK monetary policy, Mervyn King, the Bank of England governor, recently indicated an ambition to make the Bank’s rate-setting deliberations more open and transparent. As transparency is a fashionable virtue, even though its application may be obscure, his remarks received a warm and sympathetic hearing.
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Bank of England hold Interest Rates at 5.5% |
| June 7th, 2007 under General. [ Comments: 2 ]
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No rate change this month, as the MPC hold rates at 5.5%
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5% inflation a possibility due to Money growth |
| June 4th, 2007 under General. [ Comments: none ]
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source: Telegraph
Congdon warns of 5pc inflation
By Edmund Conway, Economics Editor
Last Updated: 8:52am BST 04/06/2007
One of Britain’s most prominent economists has said inflation could soar to as high as 5pc in the year ahead, warning that the Bank of England has lost control of prices.
Tim Congdon, the former adviser to Tory Chancellor Kenneth Clarke, said that it was foolhardy to presume that prices will only fall in the coming months.
He said it is possible that the Consumer Price Index, currently 2.8pc, soars to 4pc or even 5pc, warning that recent 16-year highs in the growth of money circulating around the economy pointed to higher inflation ahead.
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