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Following the news that input costs, particularly for raw materials, jumped in January at the quickest annual rate for British manufacturers in more than two years, fears over possible interest rate and consumer inflation increases developed. Surprising hikes in the costs of imported oil, food, metals, and various other materials generated a greater than 13% annual [...]  According to the British Chamber of Commerce, or the BCC, engineering plants have been busy once again in the West Midlands. The plants will be providing specialized parts to the German car industry. David Kern is the chief economist with the BCC. He says that manufacturing in Britain has been more successful than services [...] The Bank of England’s decision to leave interest rates at 0.5% has spurred a slight rise in shares, with Lloyds, Barclays and Royal Bank of Scotland gaining an average of 3.5% in the past couple of days. Bank shares also rose in the EU after initial reports from the stress tests being conducted on European [...] The rate of inflation during April jumped to a high of 3.7%, which is the highest it has been in the previous 17 months, and a much bigger leap than was anticipated. A large part of the rise of price inflation since November of 2008 is attributed to the increase in price of food, women’s clothing, [...] The monetary policy committee of the Bank of England voted on Thursday to hold the interest rates at .5% and not to extend its programme of cash injections back into the economy. The decision was expected by most and comes as the state of the economy showed mixed signs during the early months of 2010. Although the [...] |
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