Wednesday, Jan 27, 2010
No double dip, because UK isn't really going to be leaving the recession
Telegraph: Britain should avoid 'double-dip' recession, says BoE rate setter Andrew Sentance
''Britain should avoid a dreaded "double-dip" recession but fears over inflation remain, Bank of England rate-setter Andrew Sentance said today.''
Posted by hpwatcher @ 07:45 PM (1422 views) Add Comment
10 Comments
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1. paranoia blue said...
Ha Ha ...double Ha ha
2. hpwatcher said...
This guy is the ultimate VI
3. Crunchy said...
And I'm going to listen to yet another dispensable fall guy. Give me another break!
4. Andy Long said...
Mr Sentance added that there is "scope for a much stronger recovery" in house prices over the coming years as pressures on lenders ease.
It is this guy an estate agent?
5. alan said...
"Mr Sentance added that there is "scope for a much stronger recovery" in house prices over the coming years as pressures on lenders ease".
I thought the role of the MPC was to "set an interest rate it judges will enable the inflation target to be met" (see BoE website). That inflation rate is high and getting higher.
Obviously Sentance hadn't spoken to the board of the Skipton Building Society....!
6. Pmoc_2001 said...
but went on to say... "triple, quadruple, quintuple dip due to debt mountain the size of Everest not, not likely".
7. str 2007 said...
But if he's a 'rate setter' then he sets the rates. Therefore he knows what he is going to set them at, therefore is likely to know the outcome he's about to create.
He may be a vested interest but surely has some control over his interest.
Therefore should you be listening to what he's saying ???
8. inbreda said...
there was me thinking that inflation was a dead cert, and then some pillock from the BoE goes and suggests it is possible, and now I just don't know :-(
9. fallingbuzzard said...
The man is a pilchard. Whenever he says that something might happen but is not very likely, it happens. That he thinks inflation is a risk but not the most likely medium term outcome makes me think its a dead cert. Same man said that the financial market problems would not affect the UK or global economy and the UK would not be threatened by deflation. September 2007, the week after the collapse of Northern Rock. Out of touch or what? Personally I'd send him back to his previous job as Chief Economist and Strategist at BA.
10. mander said...
MPC employing people like Andrew Sentance might already have distroyed the successful economic model that UK has enjoyed for years.