UK retail sales fell 1.4% in May

Mrs_Bones

Graham_Devon wrote: »

LOL. I had to laugh. Warm weather is actually now mentioned in the article

If the weather is good thought it normal means that there are more people around shopping.and likewise spending more.

RenovationMan

Graham_Devon wrote: »

Every piece of news gets this same response!

Growth news = Great, better not increase rates, it'll stump the growth out.

No growth news = Boo, better not increase rates then.

We should be looking to set them lower than they are. Cut them by 50% I say.

Yes, perhaps we should increase interest rates to cool our overheated economy.

Loughton_Monkey

Er.....

Q1: When do most people spend money on the High Street? Answer: Saturday.

Q2: How many Saturdays in the 'bumper' month of April? Answer: 5

Q3: How many Saturdays in the 'bad' month of May? Answer: 4

So expect an 'ordinary' increase for June (4 weeks) and a 'bumper' increase for July.

Thrugelmir

RenovationMan wrote: »

Yes, perhaps we should increase interest rates to cool our overheated economy.

Then you obviously missed the speech last night. So becareful what you wish for.

'Mervyn King has issued another bleak assessment of the UK economy.

The Bank of England governor said it would be at least three years before the stricken economy would see light at the end of the tunnel.

King offered his gloomy prognosis at the annual Lord Mayor's dinner at Mansion House. He said: 'The world economy is adjusting. In more biblical language, failure to tackle the imbalances during the seven years of plenty before 2007 threatens seven lean years thereafter for at least part of the world economy."

He also said reining in inflation through higher interest rates would cause great economic pain.


http://citywire.co.uk/wealth-manager/king-warns-uk-faces-three-more-painful-years/a500200

Graham_Devon

Thrugelmir wrote: »

Then you obviously missed the speech last night. So becareful what you wish for.

'Mervyn King has issued another bleak assessment of the UK economy.

The Bank of England governor said it would be at least three years before the stricken economy would see light at the end of the tunnel.

King offered his gloomy prognosis at the annual Lord Mayor's dinner at Mansion House. He said: 'The world economy is adjusting. In more biblical language, failure to tackle the imbalances during the seven years of plenty before 2007 threatens seven lean years thereafter for at least part of the world economy."

He also said reining in inflation through higher interest rates would cause great economic pain.


http://citywire.co.uk/wealth-manager/king-warns-uk-faces-three-more-painful-years/a500200

He also said, again, inflation is temporary (seems a long temporary to me), and gave the biggest indication so far he's not going to do a jot about it.

Low interest rates are here to stay for a while, regardless of inflation, unless their hand is ultimately forced. Personally, I think that's what it will take.

Personally feel they should just come clean now, and publically state the inflation mandate is now disregarded.

chucky

Graham_Devon wrote: »

He also said, again, inflation is temporary (seems a long temporary to me), and gave the biggest indication so far he's not going to do a jot about it.

Low interest rates are here to stay for a while, regardless of inflation, unless their hand is ultimately forced. Personally, I think that's what it will take.

Personally feel they should just come clean now, and publically state the inflation mandate is now disregarded.

bingo....

you got there in the end, i always knew that the penny would drop at some point...

inflation is the least of our worries. if the retail sales continue that way i'd start thinking of deflation... i don't think they will fall for too long though.

Thrugelmir

Graham_Devon wrote: »

Personally feel they should just come clean now, and publically state the inflation mandate is now disregarded.

As long as there is slack in the economy which minimises wage inflation (for the average Joe). Then BOE may well hold its course for a while longer.

ManAtHome

Thrugelmir wrote: »

King ..... said: 'The world economy is adjusting. In more biblical language, failure to tackle the imbalances during the seven years of plenty before 2007 threatens seven lean years thereafter for at least part of the world economy."

Bloody good job he replaced the useless git who thought the dramatic increase in UK personal debt prior to 2007 wasn't a problem then...

RenovationMan

Thrugelmir wrote: »

Then you obviously missed the speech last night. So becareful what you wish for.

I have to say, heand on heart, that I have never wished for a recession either in the past, present or future. I changed my finances to take advantage of what I felt was going to be a protracted period of low interest rates. When the winds of finance change, I will alter my finances again.

Wishing, like praying, is a complete waste of time. Que Sera, Sera (Whatever Will Be, Will Be).

chazzee

chucky wrote: »

bingo....

you got there in the end, i always knew that the penny would drop at some point...

inflation is the least of our worries. if the retail sales continue that way i'd start thinking of deflation... i don't think they will fall for too long though.

That's what really concerns the BoE down the road. If you choke off what little growth prospects we have now, that could be a real certainty.