Sunday, Dec 09, 2007
Lowering interest rates probably won't avert crisis
Fool guide: Most Homeowners Won't Get a Rate Cut
Thursday's rate cut is only the first step on what will undoubtedly be a long, hard road to tackling the UK's addiction to credit. For borrowers to feel real relief, two or three more base-rate cuts will be required. However, this would weaken the pound and place upward pressure on inflation, which the Bank of England wants to avoid. Truly, the Bank is caught between a rock and a hard place -- and the foremost losers will be British businesses and consumers.
Posted by hawkeyes @ 08:14 PM (200 views) Add Comment
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