Wednesday, Oct 17, 2007
Danny boy does it again
BBC: Bank voted 8-1 to hold UK rates
Policymakers at the Bank of England voted 8-1 to keep UK interest rates at 5.75% earlier this month, minutes show.
Posted by holding out @ 10:20 AM (866 views) Add Comment
7 Comments
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1. planning4acrash said...
"The remarks are expected to raise hopes that the Bank will cut UK rates sooner rather than later" Whose hopes, certainly not mine, why is there an assumed consensus that lower rates are a good thing?
2. Seenitallbefore said...
So good old Danny boy (who else?) wants to cut rates again by 0.25%. Does this man never learn, or does he have a massive property portfolio that he is find it hard to hang onto. He must surely recall the 2005 reduction by 0.25% and the fact that it kicked started yet another rush by wannabee landlords et al to borrow every higher wads of cash to throw at the market. Oh but of course, silly me.. it's different this time. Isn't it.
3. inbreda said...
Who would have thought - blanchflower voted for a cut.
He really is unimaginative, and generally contrary to his peers. I wonder if they think he's an idiot - after all, they are all looking at the same data, allegedly trying to reach the same conclusion, and yet blanchflowers "right" opinion is generally different from everyone elses "right" opinion. Someone is wrong and confused - it's either blanchflower or everyone else!
4. bearshare1616 said...
I reckon Blanchflower has got several BTL's on the go !!
5. Icarus said...
The BoE wants to show that it's more concerned with controlling inflation than with supporting the financial system ( read: "bailing out reckless lenders"). Central Banks don't need to cut interest rates in order to support the financial system - witness the Fed's support for the 'superconduit' caper to get Citigroup off the hook by encouraging banks to buy paper from each other to encourage investors to buy into paper related to 'structured investment vehicles' full of bad debts - or our own bailout of Northern Crock.
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7. autopilotengage said...
Why does he bother coming all this way? Surely they could just put him down for an automatic cut and he could cut something at least; his carbon footprint!