Friday, September 14, 2007

The pound dropped after the Bank of England’s Governor indicated that he may cut rates if the financial crisis heightens

Bank Governor hints at rate cut if crisis deepens

In his first comments since the credit crunch erupted, Mervyn King compared it with a bank run, but insisted that the financial system would recover, and that the experience would strengthen it in the long run. He also warned of more bumpy and difficult times for financial markets in the weeks ahead.

Posted by chris @ 05:19 AM (490 views)
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One thought on “The pound dropped after the Bank of England’s Governor indicated that he may cut rates if the financial crisis heightens

  • Yep, a cut now more likely than a rise.

    Inflation up up and and away in my beautiful, my beautiful balloon.

    Oh dear it’s all becoming a right ol mess. Must be Darling’s fault.

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