(PRWEB UK) 6 February 2013
Mark Carney, predicted governor of the Bank of England is set to change the way banks control inflation. Expected to begin his post in July 2013, has suggested that banks should switch their focus on controlling inflation and instead put growth at the top of the agenda. To be concise – this means that as inflation rises, interest rates don’t also necessarily have to follow trend.
According to Tom Stevenson, investment director at Fidelity Worldwide Investment an increase on the current rate of inflation of 2.7 percent is set for this year, ‘I feel like the central banks have given up the fight against inflation. We are about to enter a big monetary experiment and the likely outcome is it increasing a bit further down the track. That’s a big worry. Any investor should be thinking about how to protect themselves now. They need to be invested in assets which are historically a hedge against rising prices.’
Cost.co.uk, one of the UK’s leading comparison sites is dedicated to finding the best prices for consumers throughout the nation in sectors such as insurance, financial, travel and utility needs.
A representative from the company added, ‘The predicted moves are a little alarming and could be a worry as they are mainly concerned with kick starting the economy. However, they are not definitely happening and as a result consumers should be aware but not panicked.’
Cost.co.uk continues to make consumers aware of money matters.
Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customer’s access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.