Tag: Ben TraynorSort
3 Predictions For The Post-Meltdown Global Economy
Over in the UK, where the economy is already shrinking, Ben Traynor looks ahead to the world after this downturn. He sees three major changes to the future global economy: 1) A larger role for governments. 2) Less efficient capital allocation. 3) More protectionism, especially in the US, with disastrous consequences for the dollar.
British inflation reached its highest rate since the Labour government handed over monetary policy responsibilities to the Bank of England (BoE) in 1997, reports Bloomberg.
At 3.3%, inflation is way above target (2%), and BoE Governor Mervyn King has conceded that it could breach 4% later this year.