Wednesday, Jul 19, 2006

Minutes show no disagreements at last MPC meeting

BBC News: Bank unanimous over rate freeze

All seven members of the Bank of England's rate-setting committee voted to leave borrowing costs unchanged at 4.5% in July, minutes have shown. The minutes indicated that the monetary policy committee (MPC) was concerned about both accelerating price growth and a slowing economy.

Posted by Webmaster @ 10:36 AM (586 views)
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1. bidin'matime said...

"In an earlier MPC meeting the only person to vote for an interest rate rise was David Walton, who died on 21 June."

They seem to have got the message then...

Wednesday, July 19, 2006 01:16PM Report Comment

2. waitingfor hpc said...

i seem to remember they said the Titanic could not be sunk!!!...... but it did when it hit an iceberg

Wednesday, July 19, 2006 01:20PM Report Comment

3. Blindleadtheblind said...

Understand these wise words...not mine unfortunately!!
Everyone loves an early inflation. The effects at the beginning of inflation are all good. There is steepened money expansion, rising government spending, increased government budget deficits, booming stock markets, and spectacular prosperity, all in the midst of temporary stable prices. Everyone benefits, and no one pays. That is the early part of the cycle. In the later inflation, on the other hand, the effects are all bad. The government may steadily increase the money inflation in order to stave off the later effects, but the latter effects patiently wait. In the terminal inflation, there is faltering prosperity, tightness of money, falling stock prices, rising taxes, still larger government deficits, and still soaring money expansion, now accompanied by soaring prices and the ineffectiveness of all traditional remedies. Everyone pays and no longer benefits. That is the full cycle of every inflation

Wednesday, July 19, 2006 02:29PM Report Comment

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