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Mervyn King : "Inflation may not fall back as strong as expected"

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Comments

  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    Is this yet another thread wanting rates to go up... zzzzzzzzzzzzzzz

    Inflation isn't exactly priority at the moment, the state of the economy is probably that bit more important at the moment...

    A lot of pensioners might disagree with you.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    pinkteapot wrote: »
    Colleague just summed it up - "It could be worse, we could be Greece." :D

    What's the likelihood that the market guns will focus on the UK at some point in time in the future?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    A lot of pensioners might disagree with you.
    you'll probably find that pensioners don't make decisions on Bank of England interest rate policy.
  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    you'll probably find that pensioners don't make decisions on Bank of England interest rate policy.

    True, they just watch their savings being eroded away. The do tend to be a fairly large proportion of the amount that vote though.

    Think Mervs pension is coming up soon, probably index linked.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    True, they just watch their savings being eroded away. The do tend to be a fairly large proportion of the amount that vote though.

    Think Mervs pension is coming up soon, probably index linked.
    maybe they should have warnings on savings accounts that interest rates don't always go up and could go down.

    aren't the pensioners allowed to use their savings or are they only allowed to touch the interest generated.
  • kabayiri
    kabayiri Posts: 22,740 Forumite
    Part of the Furniture 10,000 Posts
    Rising energy prices is a real worry in my book.

    We don't seem to have many tools to combat these rising prices. We are getting ever more dependant on imported energy. The concept of privatised energy companies which was supposed to keep prices competitive seems very limited if not ineffective.
  • ILW
    ILW Posts: 18,333 Forumite
    kabayiri wrote: »
    Rising energy prices is a real worry in my book.

    We don't seem to have many tools to combat these rising prices. We are getting ever more dependant on imported energy. The concept of privatised energy companies which was supposed to keep prices competitive seems very limited if not ineffective.

    There is a way but it would involve increasing the value of the pound, which has it's own problems.

    I did see on a previuos thread that around 25% of the cost in petrol is due to the low value of sterling.
  • michaels
    michaels Posts: 28,767 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Last year I fixed my gas at 960 for the year, to renew the fix for the same amount of gas the cheapest available now is 1422 - yes this is inflationary but it also takes a lot out of my pocket that will not go in to the rest of the economy.
    I think....
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    No surprises here. Mervyn just stating YET AGAIN that the outlook is worse than they previously forecasted.

    Anyone for a Swizzles Sherbet something or other, whatever they're called.
  • ILW
    ILW Posts: 18,333 Forumite
    I wish he would just admit that he doesn't have a clue and it is all pure guesswork.
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