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Gold/Mining/Energy : The Metals Thread

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From: Taikun	3/22/2007 2:20:40 AM
	of 252

The UK must now regret making BOE independent. I mean, they're still raising rates (carry trade gonna love this) ... Prices of goods and services are now climbing at an annual rate of 4.6 per cent. The last time they were so high, in 1991, interest rates were above 11 per cent and the housing market was in the midst of a severe crash ... Figures calculated for The Daily Telegraph by the consultancy firm, Capital Economics, have shown that, for many middle-class families, inflation could now be running at 7.6 per cent. Pensioners have been hit even harder by rising prices, the research shows, with some retired households facing inflation of as much as 9.1 per cent. The figure is higher than for any other category of household because of the comparable amount spent by pensioners on heating and water charges, which have risen sharply over the past year. Charities warned yesterday that further interest rate rises to counter inflation could push many indebted households over the edge. ... The warning came as the former governor of the Bank of England Lord George admitted that the Bank had deliberately encouraged a consumer boom that left families in debt and house prices soaring. telegraph.co.uk

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