Word: inflationitis
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Take Britain. Just as it did in Ireland and Spain, consumer confidence in the U.K. swelled in recent years on the back of rising housing prices. But in all three countries, red-hot housing markets have suddenly gone cold. With jittery banks slashing the range of available mortgages, and rocketing...
In an attempt to shore up the housing market, British lenders have in recent weeks begun squeezing their fixed-rate mortgages to lure buyers in. The government, meanwhile, is examining a temporary suspension of the tax paid by new buyers. What's really needed, though, is an interest rate cut...
Grappling with rising inflation at a time of weakening expansion is a challenge for the European Central Bank, too. Figures released on August 6, for instance, showed a shocking 2.9% fall in German manufacturing orders in June. The country, fuelled by a booming market for its exports, has lately helped...
Protests during this anniversary month seem unlikely. But then Burma is a big country and hard to predict: both the 1988 uprising and last year's protests took Burma watchers by surprise. It's even tougher to read the country's secretive military rulers. The chief general, Than Shwe, is...
Red-Tape Blues It doesn't help that police morale is low countrywide after the government imposed a below-inflation pay deal on them; in May, officers voted to lobby the government for the right to strike, an entitlement they lost in 1919. They also complain that targets set by...