Monday, Dec 08, 2008
The problem summed up in 2 sentences
The Times: Banks angry at Gordon Brown's call for retail rate cut
Gordon Brown faces a showdown with banks this week after they accused him of deliberately distorting the arguments over interest rates.
The banks say that they cannot pass on the full cut because the cost of borrowing has not fallen on the wholesale money markets, where they borrow.
Posted by gardeniadotnet @ 09:29 AM (168 views) Add Comment
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