Sunday, Jan 14, 2007
McRae's analysis of IR hike
The Independent: Hamish McRae: You might grumble, but a rate rise now could soften the downturn when it comes
The MPC's rate rise may have been caused by a prospect of a consumer price index for December creeping over 3%. McRae believes this economic cycle may see interest rates of 6%, within the next year or two. He also argues that the continuing housing boom is a failure of monetary policy, and must end soon
Posted by jellycaster @ 05:02 PM (174 views) Add Comment
2 Comments
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1. enuii said...
'A failure of monetary policy', I wonder who is to blame for that!
2. talking rot said...
Harumph. Hamish McRae has suddenyl changed his tune a bit. Has read a number of his recent posts, I would have placed him as a Bull rather then a bear. I wonder why the change of heart - perhaps he has just sold his BTLs?
Or perhaps he doesn't what Edmund Conway stealing all the glory when the doomsters are [finally and eventually] proved right.
Perhaps he might even tell me what a crash is?