Wednesday, Jan 07, 2009
The 'independent' MPC is now redundant
Telegraph: Pound stages unexpected recovery ahead of MPC meeting
Think about it objectively for a minute - what good will lower rates actually do for the economy now? Or will they just make imported goods even more expensive?
Posted by paul @ 07:30 PM (379 views) Add Comment
4 Comments
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1. greytornado said...
I wonder if Brown & Darling saw that one coming? (recovery of the pound happening.) To lower interest rates further now might be a really bad idea. (Like giving someone who is showing signs of recovery from the flu, a cold bath !!)
2. buctootim said...
Lower pound means
Cheaper exports, increasing demand
More expensive imports, creating inflation and avoiding damaging deflation
3. enuii said...
Tim, are you from anywhere near Widnes?
What exports?
Inflation without inflation busting wages rises = lower purchasing power and more unemployment.
Further rate cuts will close this circle.
4. techieman said...
unexpected?