Thursday, Jul 26, 2007
Plenty of bleating going on - Nice of them to 'tell' the MPC too!
FT: MPC told to give rises time to bite
The Bank of England is in danger of raising rates too far because it is not allowing enough time for the full effect of previous rises to come though, says a respected economic think-tank.
Arguing that this month’s quarter-point rate rise to 5.75 per cent “looks pretty unnecessary to us”, the National Institute of Economic and Social Research said on Thursday that some members of the Bank’s rate-setting monetary policy committee might be “overreacting”, especially if they were to vote for another rate rise this year.
Posted by tyrellcorporation @ 09:36 PM (191 views) Add Comment
2 Comments
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1. tyrellcorporation said...
The FT is such a dovish old rag these days...
2. uncle chris said...
Maybe we should form a respected think-tank - hmmm - maybe the 'National Institute of Asking for Interest Rate Rises - Please - Pretty Please - Association"