TaxAssist Accountants
0800 0523 5550800 0523 555

Bank of England governor 'expresses confidence'

Date: 27th June 2008

The governor of the Bank of England Mervyn King has expressed confidence in the future direction of inflation in the UK.

In spite of current levels of 3.3 per cent, Mr King has confirmed his belief that inflation will move downwards, returning again to a rate of two per cent.

However, in news that could be problematic for small businesses, Mr King noted that inflation is likely to rise above four per cent before again moving downwards.

"As things stand, inflation is likely to rise sharply in the second half of the year, to above four per cent," said Mr King earlier this week.

"I must stress however, that there are considerable uncertainties, in both directions, around this and any such projection is particularly sensitive to changes."

Mr King has confirmed that in addition to the cost of energy, inflation will probably be affected by rises in the cost of food.


Related Articles



0800 0523 555 TaxAssist Accountants Locations Map
TaxAssist Facebook TaxAssist Twitter TaxAssist Blog RSS

Newsletter for Small Business

Join our newsletter and receive tax news every month suitable for small businesses.

Testimonials

View all

Over the past 10 years we believed that if we wanted outstanding service we should use traditional large accountancy firms. Oh how wrong we had been! We had been charged high fees without any real value being added to the business.
DAVE THOMAS
Bluegrass Consultancy Ltd

© 2012 TaxAssist Accountants. All Rights Reserved. TaxAssist Accountants Buy Local Campaign TaxAssist Accountants Supports Round Table Childrens Wish TaxAssist Accountants - Interactive Media Awards 2010 Best In Class Winner