Bank 副: A year of hardship ahead

By DANIEL MARTIN FOR THE DAILY MAIL
Updated: 11:50 BST, 3 July 2008

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Britons were 警告するd last night to を締める themselves for 落ちるing living 基準s for the next 12 months.

Charles Bean Prices to stay high for two years.

Charlie Bean, new 副 知事 of the Bank of England, said rising oil prices would put the economy under その上の 緊張する, 長引かせるing the 悲惨 for 消費者s.

But he 控訴，上告d to 労働者s not to 押し進める for higher 給料 in the wake of rising インフレーション.

Mr Bean said the UK was 直面するing 'the most challenging 始める，決める of circumstances since at least the 早期に 1990s and かもしれない earlier, with higher インフレーション the result of 全世界の factors'.

'As a nation, it means that our living 基準s will be lower than they would さもなければ be,' he 警告するd.

'Real living 基準s will have to grow いっそう少なく 速く this year, and かもしれない part of next year, than was the 事例／患者 in the late 1990s and 早期に 2000s.

'There is not very much that we can do about that as a nation unless we 改善する our 生産性 to 相殺する it.'

Mr Bean, former 長，指導者 経済学者 for the bank, appeared before the 財務省 select 委員会 to 示す his 任命 as 副 知事.

He 予報するd the 'relentless' rise in oil prices could go on for at least two years. 'Part of the 推論する／理由 the oil price has risen so much recently is that those extra sources of 供給（する） 港／避難所't come on stream as 速く as one would hope,' he said.

'So it is perfectly reasonable to 推定する／予想する that if the 需要・要求する for oil continues to rise in the way that it has done over the last few years, that the oil price may continue to rise over the next year or two.'

Mr Bean said he hoped any rise in インフレーション would be short-称する，呼ぶ／期間／用語 but 警告するd that the longer oil prices rise, the more difficult it would be to 持つ／拘留する 支援する 圧力 on 支払う／賃金.

'It is easier to 説得する people to 受託する a year of 比較して low growth, or even 削減（する）s in their real incomes if it is for a year or a 比較して short period,' he said.

'But if it is for a number of years running, 明確に that is a much tougher 気候.'

失業 will rise by 100,000 in the next year, a 全世界の 経済的な 予報官 予報するd yesterday.

The Organisation for 経済的な C o- 操作／手術 and 開発 警告するd that the number of Britons out of work is likely to rise from 1.7m this year to 1.8m in 2009.

Partly as a result, British 労働者s will 苦しむ the weakest 行う growth of any 主要な nation, the Paris-based 団体／死体's 報告（する）／憶測 示唆するd.

支払う／賃金 before 税金 in the 私的な 部門 is 予測（する） to rise by just 0.6% next year - mean-the 普通の／平均（する） 年次の 行う will go up by いっそう少なく than £140.

インフレーション, デフレ and the cost of living

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• A history of インフレーション
• 利益／興味 率s: The インフレーション 衝撃
• デフレ: 勝利者s and losers
• 30-second guide: Controlling インフレーション
• 30-second guide: デフレ
• 30-second guide: インフレーション basket
  
• Calculator: What money used to be 価値（がある）
• Calculator: Your personal インフレーション 率
• （米）棚上げする／（英）提議する: Price changes over 10 years (click & scroll 負かす／撃墜する)

After 税金s are factored in, the 普通の／平均（する） family is likely to 直面する a 拒絶する／低下する in income.

The grim 人物／姿／数字s を強調する the parlous 明言する／公表する of Britain's economy, as 株 in 示すs & Spencer fell by £1bn yesterday after it 発表するd the 衝撃 of the credit crunch on High Street sales.

Housebuilder Taylor Wimpey saw its 株 halve and 確認するd 900 British 職業 削減（する）s to 対処する with a '重要な' market 低迷.

The City is 推定する／予想するd to lay off tens of thousands of 財政／金融 労働者s, while 広い地所 スパイ／執行官s are 予定 to lay off thousands as home sales 急落する.

High Street shops are also likely to 削除する 全労働人口s in 返答 to 悲惨な sales.

一方／合間, Mr Bean's Bank of England 同僚 Kate Barker 警告するd of 'enormous 圧力' on construction and 住宅, the Evening 基準 令状s...

Kate Barker, a member of the Bank's 通貨の 政策 委員会 and author of a major 報告（する）／憶測 into 住宅 for the 政府, said: 'Different 部門s are 苦しむing different 圧力s - the construction 産業 in particular and 住宅 are under enormous 圧力.'

She 追加するd that the big question for companies was how far they could 含む／封じ込める costs.

'The thing that has stood out for me is just how strong some 会社／堅いs' cost 圧力s are, coming from food, oil and other 商品／必需品s,' she said. 'We know this because 生産者 prices are so strong.'

The comments を強調するd the growing 脅し of runaway インフレーション at a time of 拒絶する／低下するing 経済成長, and 最高潮の場面d the 窮地 直面するing the Bank of England as it ponders what to do with 利益／興味 率s in the 直面する of such an 経済的な 嵐／襲撃する.

The European Central Bank was today 均衡を保った to raise 利益／興味 率s from 4% to 4.25% as it steps up its fight against インフレーション.

経済学者s said ECB 大統領 ジーンズ-Claude Trichet was taking pre-emptive 活動／戦闘 against a worst -事例／患者 シナリオ on インフレーション.

Construction and housebuilding group Galliford Try today said the 住宅 market 'has shown no 調印するs of 改良' since the spring, and 警告するd low sales and higher costs would continue to 攻撃する，衝突する 利ざやs.

It said 利益（をあげる）s for the 12 months to 30 June would be 'in line with previous 予測（する）s of no いっそう少なく than £60m'. The 株 rose 2?p to 34?p.