Forget scrapping the 10p tax band: here’s how Gordon could really hurt the poor

                   
moneyweek.com: John Stepek, MoneyWeek author moneyweek.com
moneyweek.com     May 16, 2008            

It’s started already. The Bank of England should abandon its inflation target, claims Peter Spencer of the Ernst & Young Item Club. That would leave the Bank some leeway to cut interest rates – exactly what Gordon Brown hopes it will do… Why the arguments for core inflation don't stack up There... [read full story]                

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Inflation Day Passes With No Cheering Crowds…

actionforex.com     May 14, 2008          

Asian Morning Update European overnight releases: States overnight releases: Inflation day has passed but without any shocking rises from either side of the Atlantic Pond. It's fine for ECB and finance ministers to say that they can't allow inflation to get higher but frankly it's clearly out of...                

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Bleak Assessment For The British Economy

actionforex.com     May 15, 2008          

Bank of England governor Mervyn King yesterday warned for the first time that the UK's sharp slowdown in growth could send the country into recession. In the most downbeat assessment of the economy by the bank since Labour came to power in 19997, king warned that rising energy and import...                

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Bleak assessment for the British economy

fxstreet.com     May 15, 2008          

Bank of England governor Mervyn King yesterday warned for the first time that the UK’s sharp slowdown in growth could send the country into recession. In the most downbeat assessment of the economy by the bank since Labour came to power in 19997, king warned that rising energy and import prices...                

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Bank of England warns no more rate cuts before 2010 as credit crisis deepens

freerepublic.com     May 15, 2008          

There may be no cuts in interest rates until 2010, the Bank of England has indicated. However, inflation is predicted to rise far above previous forecasts and stay well above the Government's target of two per cent for up to two years. Mervyn King, the Bank governor, said price increases would...                

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TURKEY: Rising inflation tests monetary policy

oxan.com     May 16, 2008          

EVENT: The Monetary Policy Committee (MPC) of the Central Bank raised its key policy rate, the overnight borrowing rate, from 15.25% to 15.75% yesterday, in line with market expectations. SIGNIFICANCE: This was the first upward rate move for almost two years and the Bank's first move of any kind...                

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Our Economy is a Numbers Racket

es.wordpress.com     May 17, 2008          

Why the economy is worse than we know KEVIN PHILLIPS - The corruption has tainted the very measures that most shape public perception of the economy—the monthly Consumer Price Index (CPI), which serves as the chief bellwether of inflation; the quarterly Gross Domestic Product (GDP), which tracks...                

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Inflation targets & credibility

stumblingandmumbling.typepad.com     May 17, 2008          

Should the UK abandon its inflation target? Inflation targeting works best when inflation is the result of demand fluctuations. When this happens, the Bank can both control inflation and stabilize demand by cutting rates in a downturn and raising them in a boom. By contrast, a credible...                

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