UK investors expect rate rise peak

As 1999 drew to a close, the US economy had begun to resemble a runaway train. The firebox had been ...

As 1999 drew to a close, the US economy had begun to resemble a runaway train. The firebox had been stoked by the ebullient consumer, as greater personal wealth led to a spend, spend, spend mentality. Despite rampant growth of the US economy, inflation remained a spectral presence last year. Many analysts were quick to invoke the new paradigm, that technology-led increases in productivity have upped the rate at which an economy can grow without causing higher inflation, as the reason for this golden economic scenario. What is this new safe rate? The jury is still out. As the record breaki...