Mervyn King plays down the threat of inflation
Mervyn King, the governor of the Bank of England, has this evening played down the threat of inflation in the UK suggesting that inflation is just as likely to under shoot its target as to overshoot. This is the first major speech from Mervyn King since August and would appear to suggest, just prior to the issue of October MPC minutes, that there is some debate within the committee as to the direction of the UK economy.
Mervyn King has many months suggested that UK inflation is not a reliable measure of economic activity and the underlying strength of the UK economy. He has for some time believed that inflation will fall back to within the banks 2% target rate in the short to medium term without any major action from the authorities. Indications that the UK economy is beginning to weaken, after a period of relative buoyancy, would seem to support this belief although so far the figures have refused to fall into place.
The Bank of England is beginning to give the impression of a body which is frustrated by the relative strength of inflation despite numerous attempts to talk down the threat of inflation in the UK.
Charity fears 'unlawful' bailiffs
New government legislation will facilitate the unlawful behaviour of bailiffs, the Citizens Advice charity has warned.Having already passed through the House of Lords, the tribunal, courts and enforcement bill receives its second reading in the Commons today.The bill extends the powers of bailiffs to enforce debts, including consumer credit debts, by forcibly entering domestic premises.Even those...Read More
Hays recruitment consultancy warns on UK employment market
The Hays recruitment consultancy has today warned that the UK employment market is going through a difficult time which could become worse in the short to medium term as literally hundreds of thousands of public sector workers face the possibility of redundancy. Earlier this week we reported on news that both temporary and permanent positions in the UK employment market fell during the month of Ju...Read More
Which? outs misleading packaging tactics
14/11/2014 An investigation by consumer group Which? has found that packaging tactics used by supermarkets and manufactures run the risk of misleading shoppers about products and deals. Which? found cases such as a Lynx giftset on sale for £6.50 contained a deodorant that normally cost £3 and shower gel that cost £2. Manufacturer Unilever told Which? that the cost of making gift packs wa...Read More
Will student fees be an easy target for political parties?
As we covered in one of our posts early today there appears to be a consensus growing with regards to student fees and budget cuts in the UK. While many parties have come forward to suggest that student fees should be increased and the income level at which students have to pay for their education should be lowered there has been silence from the political arena.
There is strong spe...
Unilever chief downbeat on the worldwide economy
Paul Polman, the chief executive of Unilever, has issued a very downbeat assessment of the global economy and the immediate future. Despite the fact that the financial press is indicating a global upturn, spearheaded by the US economy, the chief executive of Unilever has yet to see any "green sprouts" in the global economy. While this is an obvious concern, is he being too pessimistic in the short...Read More