In the UK the next monetary meeting between chancellor Kenneth Clarke and Bank of England governor Eddie George is ...
In the UK the next monetary meeting between chancellor Kenneth Clarke and Bank of England governor Eddie George is on April 5. However, with personal sector economic data looking weak, (significantly retail sales, the housing market and survey data of consumer confidence), there is unlikely to be a rate rise at this time.
The consensus view in the US is that there will not be an interest rate rise at the next Federal Open Market Committee (FOMC) meeting to discuss monetary policy on March 28. February's Producer Price data indicated only a modest acceleration in finished goods prices, although inflationary pressures are evident from sharp rises in intermediate producer goods prices.
However, if there are signs of these price rises at the producer level feeding through to consumer price inflation in the next couple of months there is likely to be an interest rate rise when the FOMC meets again on May 23.
In Germany the Bundesbank has held its key discount and Lombard interest rates unchanged since May 1994. However there are now increasing fears of German inflation as wage-settlements rise, and there is expected to be a monetary tightening in the next 12 months.