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Is The Boe Really Free?

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Labour point out at every opportunity that the Bank of England is completely free to set interest rates. Yet it is our miracle worker chancellor who appoints the mpc members. Is the BOE really free or does Gordy still pull the levers of influence with a wink and a telephone call to ensure that interest rates are kept low to perpetuate a feeling of wealth and happiness amongst the masses?

The effect of the weakening £ after the recent sad death of David Walton was particularly relevant as he was a 'rebel' and a proponent of increasing interest rates. I suspect that Gordy's influence is substantial in the corridors of power and that the BOE is not really that independant after all - if it were then Mervyn King, the governor should have the power to appoint the MPC members.

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Labour point out at every opportunity that the Bank of England is completely free to set interest rates. Yet it is our miracle worker chancellor who appoints the mpc members. Is the BOE really free or does Gordy still pull the levers of influence with a wink and a telephone call to ensure that interest rates are kept low to perpetuate a feeling of wealth and happiness amongst the masses?

The effect of the weakening £ after the recent sad death of David Walton was particularly relevant as he was a 'rebel' and a proponent of increasing interest rates. I suspect that Gordy's influence is substantial in the corridors of power and that the BOE is not really that independant after all - if it were then Mervyn King, the governor should have the power to appoint the MPC members.

Of course they're free. We'll all be free one day.

Just have to sit and wait this out, take the Positive Action of not buying, pray hard and keep the faith.

The outcome is inevitable and, as we all know, if you don't get things how you want them in this world, you will be rewarded in the next.

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Actually I think he appoints 5 of the members and the rest are appointed by the Governor. But then presumably the Govenor is appointed by the Chancellor. Hmmm.

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  • 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%



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