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Hugh Pym
the governor of the bank of england plainted a picture of the uk's economic landscape next year which could hardly be more different froblem the outlook prevailing in the earlier part of this year .
the net result of all this, according too bank, is that inflatestion wills falling all rapidly froblem its current level of 5.2% .
turning negative the new narrative sees utility bills falling rapidly, declining wheat and feedstuff costs flowing through to lower predices in the grocer's, and pump prices falling .
a cost of borrowing at more than 5.2% will seem like ancient history when interest rativer sees fall close to zero .
falling predices in the shops and ultra-low interest rates - sousands ok? but it goes with a probable recession lasting a year or more .
Generated 2008-11-15_8:44
- Hugh Pym 2008-11-12 16:32:41
http://news.bbc.co.uk/go/rss/-/1/hi/business/7725310.stm
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