Tuesday, September 26, 2006

Trouble up at mill?

BoE deputy mulled rate rise vote

Senior Bank of England official Sir John Gieve has indicated that he considered voting to raise interest rates because of inflation concerns.

Posted by harold @ 02:06 PM (2799 views)
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2 thoughts on “Trouble up at mill?

  • Everyone is queuing up to predict a rate rise in November, yet there is more than an outside chance that they will go for a quarter point hike next month to leave room for a possible further rise in December.

    Given the data, that would probably be the wisest course of action. The trouble at the moment is that there are so many new boys on the MPC, it is quite difficult to read their collective thoughts…

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  • What’s more, the new boys don’t really know what they’re doing either – evidenced by their “let’s wait and see” approach for the last decision.

    A rise in September would have met their goals even better at stemming inflation but they know that it would have put the willies up the housing market, so they just sat back instead.

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