Thursday, September 4, 2008

No inflation here, nothing to see

Bank of England May Keep Rate at 5% After Inflation Accelerated

Governor Mervyn King's nine-member Monetary Policy Committee will leave its key rate at 5 percent at 12 p.m. in London today, according to all 61 economists in a Bloomberg News survey. I wonder if these so called economists will be sacked if their predictions are wrong?

Posted by matt_the_hat @ 08:11 AM (760 views)
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9 thoughts on “No inflation here, nothing to see

  • Wasn’t the fall in sterling at the beginning of the week attributed to an expected cut ?

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  • I thought it was attributed to the UK being in recession

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  • this lot should be sacked, as they were the ones who led us into this mess.

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  • george monsoon says:

    Im going against the grain here, but I still think they will cut by .25%

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  • mountain goat says:

    if I was a betting man/goat I would put my money on a rate cut

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  • tyrellcorporation says:

    They can’t cut, Sterling would implode!!!

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  • george monsoon says:

    Sterling is going to implode whatever they do..

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  • Well I think they should raise 0.5% to show they’re serious about fighting inflation, they can always ease it back in a year or so as the deflationary pressures come to through.

    At least by raising they will retain some strength in our currency, quite important I’d say.

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  • I reckon it will hold. Inflation is coming down (according to latest fudged figures). Dropping it would crucify sterling.

    That aside, I wonder incentive Gordon will pull out of his a-r-s-e this time to save the housing market? What can tax payers money be used for next. He’s already used it to prop up banks. He’s using it to provide loans of up to 30%. You can save yourself from sinking into the shi* by eating it Gordon….but only for so long….

    Next will be higher deferred stamp duty threshold.

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