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|Posted on October 6, 2015 at 3:19 PM||comments (8)|
In my considered opinion, No, I don't believe there is any reason for the Governor of the Bank of England to announce a rate hike this week. The inflation figures are far from the healthy 2 percent they are waiting for, and the core inflation therefore is also likely to be in the range that would not justify a rate hike.
This should be happy news, I guess, and allow the stockmarket and property sector to register some more gains. The Chancellor's appointment of Lord Adonis as the Infrastructure Supremo is clear evidence that this Conservative government is going for growth and good of the whole nation.
Also the Chancellor's deals with the Chinese government for the High Speed Rail 2 has been great news
The near future looks rosy for the United Kingdom, with the "devolution revolution" that the Chancellor also announced recently. More and more of the rural areas having autonomy in setting business rates, collecting them and funnelling the funds back into the local economy will certainly be very motivating to entrepreneurs and small business owners. If there is back up from the banks in providing finance at cheap rates to those who need it, this would unleash the huge growth that is possible.
Thursday the 8th is not far away, and I believe we will all hear this happy news.