Tuesday, Jun 12, 2007
More blether from swervin' Merv
Home.co.uk News: BoE sounds rate rise alarm
There may be another interest rate in the pipeline, says the Bank of England...Governor Mervyn King signalled the possibility as he warned householders over borrowing and the continuing concern over inflation. There was a list of worrying inflationary pressures which remained "elevated" and may lead to action by the Bank's Monetary Policy Committee, Mr King told business leaders.
Posted by tinecu @ 11:57 AM (166 views) Add Comment
1 Comment
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1. Pr said...
The only reason people are borrowing to the hilt is, that, unlike many on this site, most people trust King and his band of merry men. Most people know little about economics or the uncertainties of economic theory in our new globalised economies. King is basically saying to us that it was stupid for us to trust him that rates had been set at a reasonable rate. He is also telling us that we shouldn't have read into the fact that, prior to this belated candid assessment, that his lack of publically expressed concern about inflation meant that there was nothing for us to be concerned about. I see heads rolling. When will somebody sack that bleeding idiot branch flower-power? God knows, if members of the public see members of the MPC voting for a cut in interest rates in a year like this then there is no wonder that they look on the bright side, expecially after the bank's inappropriate cut two years ago!