Thursday, July 10, 2008

Bank of England Paralysed by Fear

UK Interest Rates On Hold as Bank of England is Paralysed by Fear of Inflation

The Bank of England Monetary Policy Committee is expected to keep interest rates on hold for a third month at 5% at today's meeting despite widespread calls for a rate cut in response to a collapsing housing market and an economy that is fast falling off the edge of a cliff, which is accompanied by more distress in the banking sector that saw Bradford and Bingley teetering on the brink of collapse earlier this week.

Posted by nadeem walayat @ 09:08 AM (392 views)
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