BOE Lowers U.K. Growth Forecast
LONDON—The Bank of England said Wednesday that the U.K. economy is likely to expand at a slightly more modest pace than previously forecast because of fiscal austerity measures but maintained a bullish view of growth prospects.
In its quarterly Inflation Report, the Monetary Policy Committee said price growth would remain above its 2% target for the whole of next year, pushed up by an upcoming rise in sales tax, and warned of a possible knock-on effect on public inflation expectations.
The MPC said inflation would fall below target in early 2012 and would stay under that level until mid-2013.
The BOE’s forecasts show growth averaging around 3% over the medium term and are strikingly more optimistic than official projections from the Office for Budget Responsibility for growth of 2.3% in 2011 and 2.8% in 2012.
Those forecasts were based on the £113 billion of fiscal tightening by 2015 the government promised in June.
The U.S. Federal Open Market Committee Tuesday acknowledged that the pace of the U.S. economic recovery has slowed, and agreed to reinvest proceeds from expiring mortgage-backed securities into long-term Treasurys to help keep mortgage rates low, in what could be a step toward further easing.
The BOE indicated that it was keeping its options open, given the huge uncertainty surrounding prospects, and said it stood ready to respond in “either direction”—through tightening or loosening—to risks as they evolved.
Earlier Wednesday, data showed that the U.K.’s two main measures of unemployment fell again in July while the number of employed people rose to the highest level in more than a year. Read more
Prom Dresses for 2010 Popular Themes
Prom Dresses for 2010 Popular Themes
Prom is one very exciting annual event that juniors and seniors are really putting an effort to. But aside from the fact that everyone is looking forward to mingling and dancing, students are also expecting for more thrilling and innovative themes each year. Prom theme makes the whole occasion unique, grand and appealing. Not to mention girls going gaga over what to wear that suits with the theme.
To give you some fresh and sleek ideas of theme-inspired prom dresses for 2010, here are some suggestions of what is popular this year:
1.What could be more popular this 2010 but the ever-fantasized Twilight Saga. Prom dresses according to this theme would follow colors of glaring red and black, with matching designs of dazzling silver beads and sequins.
2. This year, enchanting themes are also on its way. That is why dresses appeal for bold charming prints. Choose one that is floral, with laces, ruffles and brooch, as if you are an enchanting beautiful fairy. Read more
Death of Indian model puts fashion industry in spotlight
Viveka Babajee’s apparent suicide sparks criticism of ‘backstabbing‘ fashion scene and highlights wider social tensions
It was the neighbours in the plush Mumbai suburb of Pali Hill, known for its exclusive anonymity, who notified the police. When local officers forced open the door of Viveka Babajee’s apartment, they found the body of the 37-year-old Indian model.
Her death a week ago sparked a media frenzy that – even though every twist and turn of the police investigation so far, and every detail of her personal life, has been picked over in breathless TV news bulletins and front-page splashes – shows little sign of abating this weekend.
Each day has brought a new claim: that she was murdered, that a final entry in her diary read “I kill”, that she wanted to marry a new lover, that in fact the pair were “simply friends”.
Through it all there has been one constant theme: vitriolic criticism of India’s fashion scene, described variously as “backstabbing”, “cut-throat” and “disturbing”. Read more