Dougie Peedle says the Island’s own economic trends are currently in tandem with the UK and therefore any steps taken by the Bank of England to control inflation in the UK were likely to suit what was happening in Jersey.
‘The actual situation in Jersey is more in line with the UK economic climate than it has been for some years,’ observed Mr Peedle.
‘We went through difficult times a few years ago, at a time when the UK economy was growing.
But we saw growth here during 2005 and growth is also expected for this year.
Earlier this month the Bank of England took the decision to increase the base rate by a quarter per cent, to 4.
5%, and some believe that another quarter per cent increase could be in place by the end of the year.
