The ERM and the real shape of the UK recession
Article Abstract:
The 1991 recession in the UK is the result of the government's policy that kept interest rates high as a means to cool off the over-heated economy of the south of England. The inclusion of the pound sterling into the European Monetary System's exchange rate mechanism (ERM) has lead to the pound's recovery and the lowering of interest rates. Nominal interest rates have decreased faster than has inflation. The recession likely will continue through 1991 and will not end until 1992. Membership in the ERM has lead to a high real exchange rate policy, which will hurt the international competitiveness of UK industry, particularly manufacturers.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
User Contributions:
Comment about this article or add new information about this topic:
Prepare for the pinch
Article Abstract:
The UK economy is slowing down, not only because of its links with the slowing US economy, but also because of other factors. The UK corporate sector is in a weakened state, with a very slow profit growth, and the growth in consumption has been greater than the growth in disposable income, which has resulted in a fall in savings.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Optimistic about mortgages
Article Abstract:
The state of the housing and mortgage lending market in the UK is analysed. The impact of a slight slowdown in the homes market, a fall in the value of the pound sterling and the removal of home ownership subsidies is examined.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Pulp fiction and other stories. Peugeot calls for state aid
- Abstracts: Something rotten in the state of the arts. Out with the new? Staging a comeback
- Abstracts: The euro and the large banks' behaviour within the EMU - entrepreneurial strategies and monetary policy. The transmission of monetary shocks in the euro area: a VAR analysis based on euro-wide data
- Abstracts: High-stakes gambit for shares of the global wireless Web. Motorola Wheels Out The Big Guns In China. All for one ... and one for all
- Abstracts: Picking winners from the infotech services sector. Computer services. Through a glass darkly