Ross Walker Quotes (13 Quotes)

When you've got inflation rising above the bank's target it reinforces the view that we don't need more rate cuts this year.

The big picture is essentially unaltered. It's a solid start to 2006 for the UK service sector.

With wage inflation still surprisingly muted and an ongoing squeeze on households' disposable incomes from higher energy costs, second-round inflation is likely to remain largely absent, allowing some further modest policy easing.

It's not particularly substantial. Especially if you look at it from the point of view of the more than 450 billion pounds of government spending every year.

This heightens the risk that we could get a rate cut in November. It's a concern that U.K. industry isn't able to do better and tap into global demand.

Evidence of stronger consumer demand over Christmas probably means the hawks can hold the line in February, but the risks for base rates remain skewed to the downside.

The deficits are bigger than expected but the underlying picture remains the same. The risk is that we will need tax rises in the medium term but there is no immediate pressure.

Manufacturing is showing a few signs of improvement. It isn't acting as a drag on overall growth, making it easier for the Bank to leave rates on hold for now.

Job cuts are mainly coming from manufacturers, who are still suffering. We are going to see further increases in the claimant count rate and the odds of any sort of wage inflation problem emerging are diminishing rapidly.

If the recent trends of muted wage inflation, deteriorating employment and industrial recession persist, we would expect the current downside monetary policy bias to translate into a cut in base rates. Our forecast is for one more quarter point reduction, in May.

From an inflation perspective these are reassuring numbers If manufacturers can't raise their prices when input cost inflation is running at an all-time high, when can they

This suggests more weakness and casts doubt on the sustainability of stronger consumer spending. The Bank of England's growth forecasts look a bit optimistic.

Of the Group of Seven economies the UK is in the best shape but there is a risk to the downside, ... There's not much data post September 11. A quarter point cut as a precautionary measure will not be too much of a risk.