英国毕业论文范文 [11]
论文作者:英语论文论文属性:硕士毕业论文 thesis登出时间:2014-08-30编辑:yangcheng点击率:14847
论文字数:7547论文编号:org201408292247246547语种:英语 English地区:爱尔兰价格:免费论文
关键词:英国论文UK EconomyConsumption Expenditure消费支出英国论文
摘要:本文是一篇英国留学生论文,本文重点研究的是英国 “消费支出”的趋势和对其趋势的分析。在18世纪和19世纪时期,英国是世界上第一个实现工业化的国家,伦敦仍然被认为是世界四大金融中心之一。
arginal impact on overall inflation thus leading to decreased consumption spending. In November 2002, US Federal Reserve had cut rates to 1.25%, a 40 year low in reaction to fears that the economy is running out of steam. Slowing UK economy forced doubling of the estimate of public borrowing to keep the economy on track. ECB had to cut interest rates for the first time in more than a year, from 2.75% to 2.5% to fuel liquidity availability.
In January 2003, the FTSE 100 dropped by nearly 50% since its peak in 1999, reaching its lowest level since 1995. UK economic growth was at its lowest level since 1992, at 1.8% per annum. UK manufacturing jobs fell to their lowest level since records began. This was not a good sign for the consumption expenditure & economy in general. UK interest rates reduced by 0.25% to 3.75%. This step was inevitable due to weak internal and external demand. In the meantime Iraq war began in April 2003. This move had widespread marks on economy and the economy slowed down further. Further in September 2003, UK interest rates were reduced by 0.25% to 3.5%, its nadir since May 1954, due to weak demand. Later in November 2003, UK interest rates raised by 0.25% again to 3.75%. Overall it was not a very good period for consumption expenditure. But proactive management by the government machinery tried to mitigate the negative impacts of these events.
UK interest rates were raised by 0.25% to 4.0% in February 2004 and then again in May, UK Interest rates were raised by 0.25% to 4.25% in wake of increasing liquidity in markets and rising inflation. At that point in time the outlook for economy seemed positive and other positive signs were visible from other economies. Prices of oil breached $40 barrier. Petrol prices reached 80p a litre. As a sign of recovering economic activity, Federal Reserve of US raised interest rates by 0.25% to 1.25%. In June, UK Interest rates were again raised by 0.25% to 4.5%. In August 2004, Bank of England again raised interest rates 0.25% to 4.75%. The period was overall good for economy and the consumption expenditure was bound to increase accordingly.
In March 2005, Federal Reserve Committee raised interest rates by 0.25% to 2.75% as a sign of booming economy and excess liquidity in US markets. This was a positive sign for UK economy which is closely connected to US economy. But in June 2005, Oil reaches near $60 a barrel due to proposed strike in Norway; hence a short spell of higher than expected inflation, adversely effecting the real consumption was underway. In August 2005, Bank of England had to cut interest rates by 0.25% to 4.5% to increase money supply. It was a tricky situation with high inflation and liquidity shocks to manage. In US crude oil prices breached $70 a barrel. Hence it was a mixed period for the economy overall and consumption expenditure was expected to grow as per expectations. In December 2005, again riding on high liquidity and positive economic outlook, ECB and Fed raise interest rates by 0.25% each.
In January 2006, Fed raised interest rates by 0.25% to 4.50%. In response ECB raised interest rates by 0.25% to 2.5%. In February Fed again raised interest rates by 0.25% to 4.75%, subsequently raised interest rates by another 0.25% to 5.00%. In June 2006, ECB raised interest rates by 0.25% to 2.75%. Moreover Japan's Central Bank raises interest rate from 0.0% to 0.25%, the first increase in six years.
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