Sunday, January 14, 2007

McRae’s analysis of IR hike

Hamish McRae: You might grumble, but a rate rise now could soften the downturn when it comes

The MPC's rate rise may have been caused by a prospect of a consumer price index for December creeping over 3%. McRae believes this economic cycle may see interest rates of 6%, within the next year or two. He also argues that the continuing housing boom is a failure of monetary policy, and must end soon

Posted by jellycaster @ 05:02 PM (526 views)
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2 thoughts on “McRae’s analysis of IR hike

  • ‘A failure of monetary policy’, I wonder who is to blame for that!

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  • Harumph. Hamish McRae has suddenyl changed his tune a bit. Has read a number of his recent posts, I would have placed him as a Bull rather then a bear. I wonder why the change of heart – perhaps he has just sold his BTLs?

    Or perhaps he doesn’t what Edmund Conway stealing all the glory when the doomsters are [finally and eventually] proved right.

    Perhaps he might even tell me what a crash is?

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