这篇关于商业方面的雅思阅读材料的主要内容是讨论了通货膨胀和利率上升的问题。据英国电讯报报道,英格兰银行近日发布了一份通货膨胀的报告,但是这份报告被认为是在为将来把投资利率提到更高的水平而铺平道路,也是其试图把生活花销回到正常的轨道上面去的一种尝试。雅思预祝大家在雅思考试中取得好成绩!
inflation
Inflation report likely to pave way for interest rate rise
The Bank of England is likely to smooth the way for higher interest rates with its Inflation Report today in an attempt to force the cost of living back on target.
The dilemma facing policymakers is how to tackle rising price pressures without derailing the economic recovery. Photo: SUZANNE PLUNKETT
Wednesdays quarterly economic forecasts from the central bank follow official figures on Tuesday showing inflation running at a two-year high of 4pc - double its target.
The dilemma facing policymakers is how to tackle rising price pressures without derailing the economic recovery.
The committee has no choice but to establish its credibility by sounding hawkish, said Amit Kara, economist at UBS.
Economists believe Mervyn King, the Governor of the Bank of England, was preparing the way for interest rate rises in his obligatory letter to the Chancellor explaining the price rises yesterday.
While he reiterated his belief that temporary factors were driving up the cost of living, including high food and energy costs and the increase in VAT to 20pc, he said the Monetary Policy Committee believed inflation will be around target, at 2pc in two or three years, under the assumption that the bank rate increases in line with market expectations.
That could mean up to three rate rises before the end of the year.
The Governors letter seems to endorse market pricing for the Monetary Policy Committee to hike soon, said Citi economist Michael Saunders.
Interest rates have been held at a record low 0.5pc for almost two years but money markets are pricing in rates at 1.25pc by the end of this year, and in general expect a faster pace of tightening over the next two years than they did in November.
The Bank produces two forecasts for inflation in its quarterly report - one based on market interest rate expectations and one that assumes interest rates remain at 0.5pc.
Analysts reckon that near-term inflation forecasts on both measures will be revised upwards to reflect a greater knock-on impact of rising commodity prices and value-added tax.
The November forecasts envisaged inflation falling to a modal 1.45pc in the fourth quarter of 2012 based on market rate expectations, and 1.59pc based on unchanged policy.
For the first time in a while, assessing what happens to monetary policy will depend on both fan charts, said Alan Clarke, economist at BNP Paribas.
The Banks outlook for growth will also play a key role in determining when policymakers start to withdraw monetary stimulus, and so far it has maintained there is enough slack in the economy to keep inflation in check further down the line.
The central bank will almost certainly have to revise down its near-term forecasts for GDP from November because of the shock 0.5pc quarter-on-quarter decline in economic output in the final three months of 2010.
The contraction was mainly due to heavy snowfall in December, and there are signs that activity rebounded quickly in January.
But the Bank may still have to lower its medium-term outlook for growth, lessening the urgency for the MPC to take action on inflation.
The Banks modal projection for year-on-year GDP growth in the fourth quarter of 2010 was 3.05pc - almost double a first official estimate of 1.7pc growth.
That said, most MPC members have clearly become more worried about the damage to credibility that is being wrought by the persistent overshooting of the inflation target, said Simon Hayes, economist at Barclays Capital.
In that case, the report will provide a vehicle to prepare financial markets, firms and households for a rate hike, probably within the next few months.
研究:西方人智商水平呈下降趋势
你知道鱼水之欢、跑步以及做其他活动的最佳时间吗?
国际英语资讯:Rescuers race against time on Italys Ischia Island, after quake kills two
国内英语资讯:China military medical team treats more than 70 disaster-affected people in Sierra Leone
国际英语资讯:Spanish judge decides to jail 2 of 4 surviving terror suspects
国内英语资讯:China issues commemorative stamps for BRICS Summit
国际英语资讯:Brazils Supreme Court opens graft case into former president Collor de Mello
求职面试的时候,千万别说这11句话
史上最傻瓜减肥法——睡美人减肥法
上海公用电话亭变身小型图书馆“悦读亭”
国内英语资讯:Rwanda looks forward to deepened cooperation with China: president
体坛英语资讯:29th Southeast Asian Games kicks off in Malaysia
不求回报地付出是一种幸福
喝热水对健康有何好处
在咖啡馆里点咖啡的必备词汇
老外在中国:低头一秒,家毁人亡!
国际英语资讯:Israeli PM warns of Irans attempts to establish footholds in Syria
A happy place to work 工作学习中幽默的“功效”
国际英语资讯:Indias top court bans controversial Islamic instant divorce
体坛英语资讯:Danish athlete claims title at Ironman Copenhagen
体坛英语资讯:China claims fifth place in FIBA Asia Cup
国内英语资讯:Chinese premier wants innovation to play bigger role in economic transformation
国际英语资讯:Mexican automotive sector asks for NAFTA rules of origin to be unchanged
国内英语资讯:Beijing court bans production of air-polluting company
国内英语资讯:Xi congratulates scientists on expedition to the Qinghai-Tibet Plateau
体坛英语资讯:Kenya Stars coach recalls striker to squad to face Mozambique
Thanks To the Setback 感谢挫折
中国人平均预期寿命达76.34岁 女性提高速度快于男性
女生们以为这些行为很可爱,其实却是男友最讨厌的
Donkey's years 很长时间