Tuesday, April 26, 2011
Keep plugging away, someone might listen!
Bank's Sentance warns that low rates erode credibility
The Bank of England's inflation-fighting credibility is in serious danger due to its failure to raise interest rates, Monetary Policy Committee member Andrew Sentance said on Tuesday.Sentance, who is the most hawkish member of the MPC and steps down next month, said that the MPC had allowed sterling to weaken too much, and had sent signals to markets that it was prepared to be soft on inflation.
Posted by alan @ 03:09 PM (1261 views)
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Thecountofnowhere says:
Their credibility is long gone.