Santander: Economy depends on the consumer
www.moneynews.co.uk > General finance > Santander: Economy depends on the consumer
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Santander: Economy depends on the consumer
Fri 11th Sep 2009
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Richard Moore, manager of the Asset Management UK arm of the banking group, made his comments following news that the FTSE 100 has reached 5,000 points.
He pointed out that consumers must now spend in order for inflation to pick up again, because the actions of central banks mean the liquidity is available.
Inflation would only really begin to pick up, in his opinion, when unemployment drops and people's wages begin to rise again.
"However, the good news is that stock markets are discounting mechanisms that climb walls of worry and, looking ahead, this should continue to be the case," he added.
It is the first time the FTSE 100 has gone above 5,000 since October 2008, according to City Index.
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Related News : Santander |
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