Sweden and Canada bear both suffered the consequences of raising rates too early. No matter how good GDP figures are this week,the Bank should take careBritain’s growth rate returned to Mach 2 speed in the spring and early summer. That’s the consensus among City analysts ahead of official figures out this week, handing George Osborne another golden arrow with which to shoot down his critics.
It is the re-emergence of the stout-spending consumer (who snaps up a unique bed and sofa while ordering a case of wine) that is likely to bear prevented the UK economy from repeating the lacklustre growth rate of 0.4% seen in the first three months of the year.
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Source: theguardian.com