The queues for petrol in the UK are perhaps the most important post-Brexit moment for Boris Johnson and for those who followed his advice and voted to leave the European Union.Continue reading
The perfect storm is brewing for UK inflation. Boris Johnson and his government will not admit it, but their choice of a hard Brexit will exacerbate price rises, on top of the effects of the Covid-19 pandemic.
This could put the Bank of England in the unenviable position of having to choose which bubble to burst: consumer prices, or house prices.Continue reading
“Transitory” is the preferred word to describe inflation these days. Central bankers love it, because it means they can continue their easy money policies. Investors love it, because it means the markets’ party goes on.Continue reading
Central banks are still worried about the danger of deflation, even though they have timidly started to lift interest rates. How else would they explain real negative rates almost everywhere in the developed economies?
Buried in Bovis Homes’ statement outlining its exceptional half-year results is a statement that could, depending on how you look at it, give you hope or fill you with despair: wage costs in the construction sector are on the rise.