Wednesday, Jan 24, 2007
No more interest rate rises?
Financial Times: King hints that rate rise cycle is near end
Mervyn trying to make out that he's still in control. Maybe he thinks the worst of the inflation rise is over. Read the small print though and another story emerges: "the Bank governor left open the possibility of its monetary policy committee raising rates again this spring."
Posted by rentslave @ 10:39 AM (160 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. inbreda said...
I think what he means is that Gordie has infiltrated the MPC with so many patsies that even if inflation hit 50% Merv has no control over the rest of the committe and still wont get a rate rise through
2. paul said...
This bit makes me giggle:
"But the governor warned wage bargainers against seeking pay deals above the rate of inflation, saying they risked embarking on a "self-defeating process of higher wages offset by higher prices"."
So don't be tempted to mitigate rising costs by asking for more money to keep your current standard of living.
This is a little bit like saying "don't try to defend yourself if someone attacks you - they'll only have to use more force".
Nice try Merv. Keep swilling on the draff, we'll keep believing your propaganda.