Friday, Sep 14, 2007
The pound dropped after the Bank of England's Governor indicated that he may cut rates if the financial crisis heightens
FT.com: Bank Governor hints at rate cut if crisis deepens
In his first comments since the credit crunch erupted, Mervyn King compared it with a bank run, but insisted that the financial system would recover, and that the experience would strengthen it in the long run. He also warned of more bumpy and difficult times for financial markets in the weeks ahead.
Posted by chris @ 05:19 AM (222 views) Add Comment
1 Comment
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1. denzil said...
Yep, a cut now more likely than a rise.
Inflation up up and and away in my beautiful, my beautiful balloon.
Oh dear it's all becoming a right ol mess. Must be Darling's fault.