Saturday, July 21, 2007
6.75% rates called by BNP Paribas.
"Alan Clark, of BNP Paribas, added: "There is a case to increase even further, to as high as 6.75 per cent, but we doubt the MPC has the appetite to stall growth to achieve a lasting slowdown in inflation". In time, they won't have a choice. The time is running out for the MPC and the housing market. The question on everybody's lips here is, why on earth does the MPC not have the appetite to do its job? Are they holding back the floodgates for an early election? Or are they infact an anarchistic organisation disguised with suits intent on destroying the economy? Are they a wing of Al Qaeda? Is David Branch Flower Power infact Osama's second in charge?! Because I tell you, letting inflation get out of control to this extent will do far more damage to the economy than bombs.