Thursday, Jun 08, 2006

MPC predicted to keep their heads in the sand

BBC News: Bank set to keep UK rates steady

UK interest rates are set to remain at 4.5% for the tenth month in a row after the Bank of England's latest meeting.

Posted by webmaster @ 07:59 AM (484 views)
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1. Waiting For The Crash said...

What a surprise.... labour spin and control at work yet again. We must be the only country on the planet not effected by US rate rises and debt - we are SO LUCKY - THANK YOU GORDAN BROWN YOU ARE MY HERO!!!!

Now in the real world - watch this policy explode in the faces of the BOE over the next 6 months!!!! You can not hide the debt , or overpriced houses, or inflation - all of which are here and real.

Thursday, June 8, 2006 08:20AM Report Comment

2. Dadm said...

Oil prices....UP
Fuel bills.....UP
Employment levels...DOWN
Take home pay.....DOWN

But don't worry...everything is fine....fuel, import increases etc clearly have no effect on inflation with the everything is alright...the world is flat....Gordon Brown is a great Chancellor

Thursday, June 8, 2006 08:52AM Report Comment

3. tyrellcorporation said...

Can't they hide inflation by choosing the basket of goods? Crash Gordon is quite adept at changing the rules to 'fit' a statistic!

Thursday, June 8, 2006 09:26AM Report Comment

4. harold said...

TCorp - yes, they can hide inflation from the public, but not from the money markets who will smell a rat and begin to dump the pound forcing the BOE to act. Surprising that they have gotten away with it for as long as they have. Let's see what happens to Euro rates - if Euro IR goes up by .5, the s**t might hit the fan sooner than most people expect. An added benefit of the BOE being forced to rise IR would be the departure of Blair - which may be the reason why the 'independent' BOE have thus far failed to act.

Thursday, June 8, 2006 09:38AM Report Comment

5. denzil said...

>>We must be the only country on the planet not effected by US rate rises

Not effected yet.

Thursday, June 8, 2006 10:31AM Report Comment

6. Bamboo said...

i thought they would use the World Cup as a cover up to hike them up a bit we are all so distracted with the footy and if England do well no one wants to think about bad news - it would perhaps have been a slightly smart move for BOE

Thursday, June 8, 2006 11:38AM Report Comment

7. sirgoogle said...

Don't worry chaps - they are just prolonging and exacerbating the problem. They will need at some point to impose a 0.5% rise in one go just to keep pace with the other central banks. lets pray that there is not (or is - depending on your personal circumstances) a run on the pound.

Thursday, June 8, 2006 12:49PM Report Comment

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