Monday, May 26, 2008
The big test is here - it's now or never
FTG: Brown and the Bank of England
"Mr Brown has been hinting, not too subtly, that he hopes the Bank will cut rates. It looks increasingly unlikely that he will be around to deal with the long-term consequences, after all. But watching the prime minister chipping away at the foundations of his first and greatest political achievement merely adds to the sense of watching a Shakespearean tragedy unfold. Thankfully, the MPC is unlikely to respond to political pressure. Expect a robust fight against inflation."
This will be a hot topic the comming months: will the BOE stick to its targets or will they go soft when it really matters. GB's own creation is coming back to bite him... surely he must regret making them independent now.
Posted by scandinavian pessimist @ 10:04 PM (481 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bystander said...
"Thankfully, the MPC is unlikely to respond to political pressure. Expect a robust fight against inflation. That will be good news for the long-term stability of the UK and good news for Mr Brown’s legacy. It will still hurt."
......for the sake of the long-term stability and viability of UK PLC and its currently heavily oversold currency we must all hope that GB doesn't succeed, as he has in the past with his catastrophic economic short-termism. This fight for stability will hurt, but long term it will be a fight worth fighting and the world will view the UK as a strong financial/political/ economic centre with a central bank in unison with a strong central government who has the vision and fortitude to do what is right for future generations, not just the fast food, "now, now, now" generation we have today.
2. Wonderpup said...
There is something gothic in the fact that it may well be Browns own creation that brings him down- Frankenstien and his monster style.
3. Stupid_boy_pike said...
If the BoE's independance is just a sham, GB may get his way, and reduce sheeples debts using inflation. Then what happens to my savings? I don't think it pays for the indivdual to act in a responsible manner. I know GB won't.