Oil
and Food Price Risk
London, UK - 13th January 2008, 09:30 GMT
Dear Open ATCA & Philanthropia Friends
[Please note that the views presented by individual contributors
are not necessarily representative of the views of ATCA, which is neutral.
ATCA conducts collective Socratic dialogue on global opportunities and threats.]
If inflation is rising and GDP growth is slowing, are central
banks prudent to continue cutting interest rates?
1. US consumer price inflation is running at 4.3% up from 2% a year ago;
2. China consumer price inflation is running at 6.9% up from 1.9% a year ago;
and
3. Euro zone consumer price inflation is running at 3.1% up from 1.9% a year
ago.
In dollar terms, the commodity price index for food has risen by 49% on a
year earlier. The price of oil is touching USD 100 per barrel and Gold is
at USD 835+ per ounce. Meanwhile central banks are indicating further cuts
in interest rates. Note the way in which Gold prices are rising in sympathetic
correlation as confidence drains in other stores of value.
When have we been here before? What is the impact of high inflation on economic
stability?
To reflect further on this, please click here
and respond directly within the online forum.
[ENDS]
What are your thoughts, observations and views?
Best wishes
DK Matai,
Chairman, Asymmetric Threats Contingency Alliance (ATCA)
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