Wednesday 13 December 2017

No time for uncertainty

Queen Elizabeth couldn't do it; President Obama couldn't do it; and soothing noises from Enda Kenny and Michael Noonan couldn't do it. Instead, gloom deepened this month.

We cannot be too surprised at the results of the latest consumer confidence survey. While the visits were cheering, the economic news in June was almost universally bad. The Greek crisis steadily worsened, the global economy slipped back, and fears of an interest rate increase rose.

Those fears were more or less confirmed yesterday. With prices rising in a booming German economy, the president of the European Central Bank signalled a rate increase -- probably a quarter of a per cent -- next month.

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