Friday, May 16, 2008
If you don’t like the game, change the rules
'The Bank of England will "crucify" consumers unless the Treasury lets it abandon its inflation target, one of Britain's leading economic authorities has warned. The Government must consider re-writing the Monetary Policy Committee's remit or leave the UK to face an unnecessarily deep and painful economic slump, according to Peter Spencer, chief economist of Ernst & Young Item Club.' Perhaps house prices are shortly going to be considered for inclusion in CPI?