Sunday, Nov 11, 2007
Mervyn Christmas!!
Herald: THE BANK THAT STOLE CHRISTMAS
"Monetary Policy Committee (MPC) held its nerve and decided to hold interest rates at 5.75% this week. This gave us a fascinating insight into the currently divergent interests of retailers and the rest of the economy. While the former want you to splurge like never before this Christmas, giving in to every indulgent desire as they seek to maximise profits, the MPC would prefer you kept your stockings on your thighs and anywhere but the mantelpiece."... this is what I call profound commentary
Posted by confused76 @ 09:04 PM (283 views) Add Comment
1 Comment
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1. Deadspider said...
"According to Philip Shaw, an economist at Investec, this is possibly another explanation of why the BoE decided to not cut rates last week. "The last thing the bank wants is a rapid build-up of debt," Shaw said. "And the chances of that happening are higher with lower rates.""
Where's he been ?
:-)))))