摘要:
SummaryThis forecast release examines the latest monthly indicators. In general they are in line with the detailed forecast published in February; retail sales have recovered from the fall in 1977 and price inflation is firmly in single figures, whilst output is showing only slight signs of recovery. The most disturbing indications are for money supply and the exchange rate. Monetary growth has been above the limit and the exchange rate has drifted in a manner that we did not expect until later this year. These indicators are related and give a clear warning for the Budget strategy. Unless the rate of monetary growth is brought back below 12 per cent it will not be possible to maintain a stable exchange rate. The target of maintaining single‐figure inflation would then be virtually impossibl
ISSN:0140-489X
DOI:10.1111/j.1468-0319.1978.tb00505.x
出版商:Blackwell Publishing Ltd
年代:1978
数据来源: WILEY