Sky-high oil prices signal higher rates

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	Sky-high oil prices signal higher rates

JICWyllie

7-15-2007 2:39 PM

621 views

tags:

economy, currencies, interest rates, i-increase, energy, oil, i-price

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/aae02de2-1684-4b58-96d7-b82d4801293d/AFABD2DC-1EFA-4D9A-B4AA-5EDD4D2BFFC2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://observer.guardian.co.uk/business/story/0,,2126419,00.html" href="http://observer.guardian.co.uk/business/story/0,,2126419,00.html" style="font-size: 11px;">observer.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://observer.guardian.co.uk/business/story/0,,2126419,00.html">A prolonged period of higher rates would raise the risk of a hard landing in the booming housing market. E</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://observer.guardian.co.uk/business/story/0,,2126419,00.html">There is already evidence that higher borrowing costs are causing pain for UK Plc. Analysis by accountants Ernst and Young shows UK firms issued 191 profit warnings in the first half of the year - 13 per cent higher than the same period a year ago. The impact of higher oil prices on inflation could be compounded by the rising costs of other commodities. World food prices, in particular, have shot up as farm land is gobbled up to grow subsidised biofuels, and droughts in Australia exacerbate shortages.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://observer.guardian.co.uk/business/story/0,,2126419,00.html">The summer energy price spike is also likely to frustrate the hopes of US investors for a confidence-boosting rate cut from the Federal Reserve over the next few months. Kona Haque, senior commodities editor at the Economist Intelligence Unit, predicts that the cost of oil will remain around $70 a barrel for the rest of the year, and throughout 2008</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/AFABD2DC-1EFA-4D9A-B4AA-5EDD4D2BFFC2/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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