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HIGHER-than-expected inflation and the dilemma facing the Bank of England on interest rates will be one of the key topics for debate at the inaugural Business and Professional Services conference in March. Just less than two months away, the event on March 17 has been organised by pro.manchester to bring together leading business figures, politicians and decision makers. Addressing the conference will be the Bank of England's chief cashier Andrew Bailey, Angela Knight from the British Banking Association and Sir Howard Bernstein from Manchester City Council. John Ashcroft, chief executive of pro.manchester, believes there will be a major talking point, and believes there should be a better way of economic management than the current system. "Throughout last year we were warning that growth would be stronger than expected, inflation would remain well above target and interest rates would have to rise sooner than most commentators have been forecasting. "The Bank of England model is fundamentally flawed with an over dependence on the output gap to bring inflation under control. Import costs especially raw materials and energy are increasing as China and Asian growth places pressure on world resources." He believes oil price movements have been exacerbated by Sterling's weakness, a situation remedied by a rise in interest rates. Meanwhile pro.manchester still has some sponsorship opportunities for the event. Contact Nicola Mortimer on 0161 833 0964 for details. See www.bpsconference.co.uk for more details. |
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