Geoffrey Dicks
Geoffrey Dicks
afraid committee dilemma economy facing familiar households housing inflation market monetary numbers policy recovering
The Monetary Policy Committee is back facing a familiar dilemma a housing market that is recovering well, with households not afraid to take on more debt, but real economy and inflation numbers which are much softer.
argued data goes growth indicate rapid round start support
One month's data do not necessarily indicate the start of a trend, but round one goes to those of us who have argued that the fundamentals do not support rapid growth in consumption this year.
buying fallen goods house household kit last months moving percent
Household goods have fallen 5 percent in the last two months -- we are moving house but not buying the kit to go in it.
consumer greater hence higher housing inflation latter market outlook policy relevance revival unless until weakness
Unless or until the revival in the housing market translates into higher consumer demand, it is the weakness of the latter that is of greater relevance to the inflation outlook -- and hence the policy decision.