- 2008 review - the year of the financial world war.
- 2008 will be regarded as the year the financial world changed forever.
- Mon 5th Jan 2009
- The 2008 Emergency Budget.
- The most important Budget for a generation and the unknown impact on the real economy.
- Mon 24th Nov 2008
- Trumpo recovers from the shock of the Positive 1.5% interest rate cut.
- More interest rate drops still to come and maybe even Zero percent.
- Wed 12th Nov 2008
Economy facing "testing times", says BoE
Thu 17 Jan 2008 4pm
The Bank of England's (BoE's) monetary policy committee is currently faced with "testing times" as a result of the uncertainty surrounding the economy, according to one official.Speaking at a meeting with the London Chamber of Commerce and Industry, BoE deputy governor John Gieve said that economic growth is now experiencing a sharp slowdown, partly due to last year's base rate increases.
He added that this, coupled with the effects of the ongoing global credit crunch, could be enough reason to make a "progressive" policy shift, going on to note that rises in food and oil prices could have further repercussions.
"These are likely to raise our inflation rate well above target in the coming months at a time when short-term inflation expectations remain uncomfortably high," Mr Gieve stated.
Earlier this week, figures from the Office for National Statistics showed that consumer price index inflation remained steady at 2.1 per cent in December.
