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Looking Into The Interest Rate Crystal Ball

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From sky news:


"It is certainly dramatic news, on the face of it, that two members of the Bank of England's Monetary Policy Committee (MPC) have voted to raise interest rates."

It goes on to say:

"These latest minutes note that, for most MPC members, there is "insufficient evidence of inflationary pressures to justify an immediate rise in Bank rate"."

Well, here's your evidence.

In graphs: London house prices up 19.3 per cent, UK 10.2 per cent


Am I living on a different planet from these people, or, I have to ask, are they stupid, corrupt or up to their ears in property ?

Edited by TheCountOfNowhere

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The reason for this 'setup' is Carney almost gave the game away in his inflation press report last week. They need to keep up the pretence of rate rises.

You could well be right there.

I suspect they know the London bubble has started to collapse and are already positioning themselves to either collapse ( less likely ) it or pump more money into it ( more likely ).

Even if it is collapsing now it will take till around election time for the news to be accepted.

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