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Rate-setter Warns Of 'false Dawn'

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More of a slightly wonky W..

\^

\/\^

Feel free to make better if anyone is any good with ascii art :P

EDIT:

Bleh and guess theres some sort of parser on here to remove whitespace..

Edited by rw42

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I think Danny the Dunce is worried in case the BoE is tempted to raise rates what with all this new found 'economic recovery' that seems to be sprouting.

It's not recovery, it's the QE money finding its way into equities and commodities (plus China buying up commodities for an internal stimulus).

The moment the free money starts flowing, it collapses like a house of cards. Which of course is why we will ultimately get inflation, and lots of it. No politician or banker is going to want to be responsible for 'wrecking the recovery' so the money printing will go on until it is much, much too late to stop inflation from raging.

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Blanchflower has left, does this mean we might actually get some interest rate rises or am I being insane ?

The latter I suspect.. the BOE will want the all clear by all signals with about three months of growth and at least stagnant unemployment and some strong signals that inflation is returning before they choose to do anything... even then it will take a while as they will move slowly.. I doubt rates will be over 5% before 2012.

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