Borrowing is getting out of control,the pound is weak and wages are likely to grow. But there will be no rise in the cost of credit for a long timeArguments for the Bank of England to raise interest rates are many and growing. It’s why an increasing number of Threadneedle Street policymakers enjoy voted for a rise and even the governor Mark Carney has felt the need to trace that an increase is not too far absent.
Top of the list is the business cycle. This esoteric term is often used in economic circles to portray the natural lifespan of an economic boom, or at least consistent expansion.
The economy is already weakening and the main measure of economic activity, and GDP,is likely to slumpContinue reading...
Source: theguardian.com