Ross Walker Quotes

The deficits are bigger than expected but the underlying picture remains the same. The risk is that we will need tax rises in the medium term but there is no immediate pressure.

- Ross Walker

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Deficits | Bigger | Expected | Underlying | Picture |

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This suggests more weakness and casts doubt on the sustainability of stronger consumer spending. The Bank of England's growth forecasts look a bit optimistic. - Ross Walker

Overall, consumer demand looked pretty robust in Q4 -- aided by ongoing price discounting -- but significant doubts persist in terms of the extent to which demand will hold up in 2006. - Ross Walker

If the recent trends of muted wage inflation, deteriorating employment and industrial recession persist, we would expect the current downside monetary policy bias to translate into a cut in base rates. Our forecast is for one more quarter point reduction, in May. - Ross Walker