Friday, Mar 27, 2009
It’s someone else's fault.... “Slur Gordon” will be last man standing
Bloomberg.com: King Becomes ‘Political Football’ in Deficit Spat With Brown
Bank of England Governor Mervyn King began testimony to lawmakers this week with a joke about football. As the week ends, he may have scored a goal for the opposition.
Conservatives George Osborne and William Hague are seizing on King’s unprecedented warning that U.K. Prime Minister Gordon Brown doesn’t have the room to drive up spending, while investors are using the remark to explain why a British bond auction failed for the first time in more than seven years.
King’s rare commentary on fiscal policy is exposing him to the political spotlight he has sought to avoid since becoming central bank chief in 2003.
Posted by postle @ 08:02 AM (321 views) Add Comment
1 Comment
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1. uncle tom said...
Interesting to note that while a conventional gilt sale failed, a relatively large sale of index-linked gilts was more than 100% over-subscribed.
That would not have happened if the markets believed deflation was on it's way..