Jump to content
House Price Crash Forum
Sign in to follow this  
IPOD

Interest Rate Cuts Not The Answer, Says B O E Chief

Recommended Posts

http://news.ft.com/cms/s/761ce7bc-3a99-11d...000e2511c8.html

Rates cut not the answer, says BoE governor

By Chris Giles, Economics Editor

Published: October 11 2005 21:58 | Last updated: October 11 2005 21:58

Mervyn King on Tuesday night signalled he was not convinced of the case for lower interest rates and could see many reasons why the rise in oil prices might increase inflationary pressure.

In a speech to business leaders in Newcastle, the Bank of England governor made it clear he was less willing than some of his colleagues on the monetary policy committee to view growth being slower than expected asa reason for a looser monetary policy.

Hooray!!!!!!!!! WE LOVE YOU MERVYN! :wub: That's one in the eye for the Anatole Kaletsky's of this world.

Share this post


Link to post
Share on other sites

http://news.ft.com/cms/s/761ce7bc-3a99-11d...000e2511c8.html

Hooray!!!!!!!!! WE LOVE YOU MERVYN! :wub: That's one in the eye for the Anatole Kaletsky's of this world.

"In a speech to business leaders in Newcastle, the Bank of England governor made it clear he was less willing than some of his colleagues on the monetary policy committee to view growth being slower than expected asa reason for a looser monetary policy."

Even FT journalists seem to be mixing up their spelling of "looser" and "loser" these days.....

:P

Share this post


Link to post
Share on other sites

The man's brief (and the other MPC members) is to keep inflation under control, to create a stable environment that will foster business and investor confidence.

Not to prop up some stupid BTL muppet who didn't do his sums, or some fool who decided to borrow 10 times his salary to buy a house because it looked like the easy way to get rich.

Hopefully Merv has the clout to go against Gordon on this one, because old Gordie would far rather prop up the property owning majority that vote, than the overall well-being of the nation.

Share this post


Link to post
Share on other sites

"In a speech to business leaders in Newcastle, the Bank of England governor made it clear he was less willing than some of his colleagues on the monetary policy committee to view growth being slower than expected asa reason for a looser monetary policy."

Even FT journalists seem to be mixing up their spelling of "looser" and "loser" these days.....

:P

:D I like it. :D

Share this post


Link to post
Share on other sites

the economic facts discussed here on many forrums are now backed up..

by none other then the head of the bank of England..

The man who said a while ago that house prices were a matter of opinion.. but that debt was real..

and .. I feel exonorated.. not that there are good times ahead.. but that they will be significantly better as I am not in massive mortgage debt

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp

The sooner the BoE get to the historical neutral rate the better for all.

That would be about 6%. <_<

Share this post


Link to post
Share on other sites

Mr King’s views do not necessarily sway other MPC members. He was outvoted in August, and the Bank went to great lengths to stress that the governor was happy with that outcome. - FT

There are several (4?) members of the MPC who are possibly influenced by Mr.Brown and his needs - impartial my ar5e!

Edited by ILBB

Share this post


Link to post
Share on other sites

It does look as if the battle lines are being drawn.

Just one question springs to mind however, who hires and fires Mr King, should certain Politicians see the need?

This has crossed my mind too. Would Mr Brown be concerned that someone could prevent him from getting into No.10?

Would something need to be done about that?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.