You are 
Home 
News Finance/Money Bank of England warns inflation crashing at 4%
Home News Finance/Money Bank of England warns inflation crashing at 4% 
News feeds
Email news|
Bank of England warns inflation crashing at 4% |
| Written by Bernard Kayden | |
| Wednesday, 23 July 2008 | |
|
Sir John Gieve, Mervyn King's number two at the Bank of England, declared that inflation in the country is poised to accelerate at close to 4 percent.<br><br> London (Online-Unsecured-loans) July 22, 2008: Mervyn King's number two at the Bank of England, Sir John Gieve, said that inflation in UK is about to accelerate to about 4 percent. This statement was issued by him before he was about to leave the Bank after being criticised over the debacle of Northern Rock.The Consumer price index, which is the main measure of the UK government to measure inflation and is an invaluable basis for the inflation target of government, is already placed well over the 2 percent inflation target of the Bank of England. The price index is presently running at 3.8 percent. The Bank Governor is required to send a letter to the Chancellor, Alistair Darling, just in case the inflation rate goes even a fraction above 2 percent. Gieve also pointed out that the hard-pressed homeowners should not expect an immediate relief in context with the interest rates cut in the short term. He also expressed his views on the forthcoming economic prospects of the country and termed the prevailing prospects as 'uncomfortable', with inflation poised to rise further, growth tailing off and unemployment picking up. The details of voting at this month's 'no-change' meeting is expected to be published next week. For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.online-unsecured-loans.co.uk/ Parade House, 135, The Parade High Street, Watford, Hertfordshire WD17 1NS 0800 097 3653 0808 178 6906 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it |
| < Prev | Next > |
|---|
Sponsored Links
.
Agriculture Automotive Books / Publishing Books /Publishing Business Computer Consumer Design Education Employment/Careers Engineering Environment Events/ Trade shows Finance/Money Gaming Government Home and Family Industry Insurance Latest News Legal and Law Lifestyle Maritime Media Medical Misc Music News Non Profit Politics Religion Science and research Self Help Society Sports Technology Telecoms News Trade Transportation Travel/Hospitality Wine
Created with AkoCloud 1.1 final.
Bookmark with:
What are these?