Oxford Economic Country Briefings, February 8th, 2007
Highlights and Key Issues
* Households were hit by a 4.6% increase in electricity prices on 1 February, the latest in a series of measures aimed at reining in the massive fiscal black hole that opened up last year. The peak of inflation is now likely to be higher than earlier thought - between 8.5-9% in February.
* The central bank was split when it decided to hold rates at 8% in January - some policymakers are worried that high inflation is set to get built into wage settlements, keeping overall inflation higher, for longer. But employers and unions have agreed an increase of 5.5-8% for the...
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