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Mpc Minutes 8-1 Voted 0.5%

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But they argued that "the markets had priced in a cut of 50 basis points and either leaving Bank rate unchanged this month, or implementing a larger-than-expected cut, could damage confidence further in both financial markets and the real economy.

"Weighing these arguments together, most members concluded that a cut in Bank rate of 50 basis points was appropriate. However they did not want to surprise the market or undermine confidence."

Seems like the tail wagging the dog to me. Let's just get to 0% and get this over with. :(

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Guess who voted for - 1% - Blanchflower - the only person on the comittee with any credibility as the rest of them called it so very very very wrong and he called it pretty much spot on.

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What makes you think that Blanchflower has any credibility? He has been voting for lower rates pretty much since he joined the mpc. Had we listened to him we would probably have prolonged the bubble like the IR cut in 2005 did.

Are you really sure that low/ nil IRs are the answer?

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Guess who voted for - 1% - Blanchflower - the only person on the comittee with any credibility as the rest of them called it so very very very wrong and he called it pretty much spot on.

Blanchflower was calling for lower interest rates throughout the credit boom, and therefore helped cause the current crisis. The solution to the credit crisis now appears to be the same thing that caused it (i.e. injecting money into the economy) but that doesn't mean Blanchflower was suddenly right all along.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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