Sunday, September 23, 2007
Do not miss this week’s Davinomics
"On the other hand, money-market interest rates remain high in spite of last week’s swerve, and represent a tightening of monetary policy, particularly for the 60% of business borrowing directly linked to Libor" "PS: My reference last week to the fact that UK house prices are not 11 times average earnings, not much more than half that, brought a flood of responses, some quite rude. A disturbing number of people believe it. Let me set the record straight."