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Economists Warn Of Inflationary Holocaust

Posted By admin On August 23, 2010 @ 3:39 am In Money Watch | Comments Disabled

Karl West
UK Daily Mail [1]
Aug 23, 2010

Interest rates could increase 16-fold within two years to 8 per cent – adding £900 to the average monthly home loan bill, it was claimed last night.

An economist at an influential think tank has warned that the base rate may spiral ‘rapidly’ as the Bank of England will need to curb runaway inflation.

Andrew Lilico, of the Policy Exchange think tank, said: ‘To keep inflation (as measured by the retail prices index) down to only 10 per cent for one year, the economy will have to be able to tolerate interest rates of perhaps 8 per cent.’

His warning echoes that of former Bank of England deputy governor Sir John Gieve, who last month said he expects rates to start rising ‘faster than the market currently expects’.

Full article here [1]

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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/article-1305315/Interest-rates-reach-8-2012-adding-900-average-mortgage.html

[2] Having A Supply Of Healthy Foods That Last Just Makes Sense (Ad): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[3] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[4] Interest rates will go up quicker than anyone expects, ex-Bank of England officials warn: http://www.prisonplanet.com/interest-rates-will-go-up-quicker-than-anyone-expects-ex-bank-of-england-officials-warn.html

[5] Rogers: Global Bankers Have Unleashed Inflationary Holocaust: http://www.prisonplanet.com/rogers-global-bankers-have-unleashed-inflationary-holocaust.html

[6] Supercommittee failure could trigger US credit downgrade, economists warn: http://www.prisonplanet.com/supercommittee-failure-could-trigger-us-credit-downgrade-economists-warn.html

[7] Is This It? Mass Rioting, Civil Unrest In Greece As Economists Warn Of Global ‘Armageddon Scenarios’: http://www.prisonplanet.com/is-this-it-mass-rioting-civil-unrest-in-greece-as-economists-warn-of-global-%e2%80%98armageddon-scenarios%e2%80%99.html

[8] Mainstream Economists’ Monetary Insanity: http://www.prisonplanet.com/mainstream-economists-monetary-insanity.html

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