Urgent bank reforms
Finance ministers from both rich and developing nations have called for an immediate reform of the banking systems in developed countries.
Posts Tagged recession
Have the tables really turned?
It appears the economic crisis is tilting the balance of power gradually away from the U.S. It seems Washington is beginning to relate to China as a respected partner. The tables seem to have turned around and this time it is the US who is having to answer to China for not behaving properly (financially).
It appears some bank have not learnt from the financial crisis. Perhaps they enjoy taking risks and have forgotten the difference between a well calculated risk from an irresponsible one. Read the rest of this entry »
Britain slips into deflation
Apr 28
This month, Britain officially slipped into deflation with the publication of the retail price index for March. This index showed a decline in the price of a basket of goods measured by the RPI of 0.4%. This basket of goods includes housing, wages and consumer goods. Not since 1960 has the UK suffered from deflation. However, this figure doesn’t tell the whole story. The measures which the government use to reflect price increases are constantly changing. Currently, food and energy costs are not included in this index but are included in the core inflation reading.
By the core measure of inflation, prices rose at an accelerated rate compared to February. In February, core inflation was running at 1.6% per annum while in March this rate increase to 1.7%.