Tuesday, Dec 12, 2006

Rationale behind November's IR rise

FT.com: MPC member explains why he voted to raise rates

Interest rates had to increase last month to head off inflationary wage de-mands and maintain the Bank of England's credibility, its director for markets said last night.

Posted by jellycaster @ 04:43 PM (530 views)
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3 Comments

1. paul said...

"Rachel Lomax, deputy governor for monetary stability, and David Blanchflower, one of the monetary policy committee's external members, voted against the rise."

Ms Lomax's calls for meeting fewer times a year, and pushing to keep rates on hold will sound very hollow looking at today's record-high inflation figures.

Nice try love.

Tuesday, December 12, 2006 04:54PM Report Comment
 

2. Surfgatinho said...

What's to explain?!

Tuesday, December 12, 2006 06:06PM Report Comment
 

3. Cstanhope707 said...

Point [1] What credibility, you can not maintain what has been long lost. Point [2] Wage inflation, well not here 2 years and no pay raise not even 1%.
The only people getting massive pay rises work for the Public Sector.

Tuesday, December 12, 2006 06:06PM Report Comment
 

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