Bank warns of inflation risk unless rates rise

Article Abstract:

It is more likely that inflation will rise in the UK following the reduction in base rates in Jun 1996, according to the Bank of England's Inflation Report. In order to act against this trend, it will be necessary to increase interest rates. This view contrasts strongly with that of chancellor Kenneth Clarke, who has accused the Bank of England of being too negative about inflation prospects, and that of business leaders, who feel that there should be no change in interest rate policy in the short term.

Forecasts and trends, Inflation (Finance), Inflation (Economics)

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Big-hitters demanded sacking of Lawrence

Article Abstract:

The recent dismissal of Michael Lawrence as chief executive of the London Stock Exchange resulted mainly from pressure exerted on chairman John Kemp-Welch by Lord Rockley, group chairman of Kleinwort Benson, and Dr Martin Owen, chief executive of NatWest Markets. These two men claimed to represent a number of key City of London personalities who were concerned about developments at the Stock Exchange. A crisis has developed at the Stock Exchange as efforts are made to find a successor.

Officials and employees, Stock-exchange, Stock exchanges, Appointments, resignations and dismissals, Lawrence, Michael

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Rates rise will hit homeowners

Article Abstract:

The decision by chancellor Kenneth Clarke to increase interests rates by 0.5%, the third rise in just over five months, will mean that mortgage rates will sson reach almost 9%. The chancellor believes that the rise is necessary in order to contain economic growth and prevent high inflation levels. Analysts believe that a further two base-rate rises could be made in 1995, with the level reaching 7.5-7.75%.

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