Sunday, May 28, 2006

Interest Rates

The Sunday Times: Too early for a calming rate cut

THERE have been three occasions during its nine years of independence that the Bank of England has reduced interest rates in response to a global financial crisis. How long does the current period of extreme financial-market turbulence have to last before the Bank decides that a calming cut is needed? If a week is a long time in politics, a day can be an eternity when it comes to reading financial markets. We ended the week stronger but the fragility remains. The stock markets performance this month gives a fair impression of the old caricature of red-bracered City traders, shouting buy, buy, buy in the phone jammed to one ear, and sell, sell, sell in the other. One day its party time, the next Armageddon.

Posted by jason @ 02:24 PM (675 views)
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1. denzil said...

It's funny.
Just reading the abstract of the blog told me who the writer must be and no surprises it was Smith.

Sunday, May 28, 2006 04:29PM Report Comment

2. Paul said...

He is an eternally optimistic bull.

He labelled the recent mass sell-offs as "market confusion" because of Bernake being a wildcard, rather than admitting the real issue of the Bank of Japan reeling in the world's credit line.

If he keeps parping this out, at least the roses will have plenty to grow on.

Monday, May 29, 2006 10:12PM Report Comment

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