RAPID responses

Not so negative

[Re: Hedgies march out of Mayfair as property costs bite, Tuesday]
It’s worth noting that, due to the long lease terms and notice periods associated with conventional office leases, many hedge funds probably decided to leave over a year ago. We own and operate 17 serviced office buildings in the West End. Our experience of the office markets in Mayfair is very different. While there was a marked drop off in demand from boutique financial service firms in 2009 to 2011, in the first quarter of 2012 we saw a marked increase, with 30 per cent more take-up than this time last year. What is seen in the serviced office market generally filters through to the wider office market and economy. If current trends continue, central London is starting to fire on all cylinders again.
John Drover, chief executive of Executive Offices Group

[Re: Bank of England’s inflation over-optimism must end now, Wednesday]
I think the Bank is realistic. Reports are that spending is down, credit granting and housing are down, but the price of food and utilities have gone up. All these indicate cost-push inflation. How is an increase in interest rates going to bring down inflation, when people have already pared down consumption but have to pay food and energy bills?
Kumar Devadasan

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