BOE interest rate cut this week...

[BrilloPad]

He is just being an arse.

HTH

after my

HTH

[lilelvis2000]

The PM has gone hand in cap to King Saud - how much lower can he go?
Surely the king is pinching himself that this isn't a dream.

Probably the only country that will get cash from Saud is Pakistan - (and those pesky taliban). BoE rate drop .5% if any at all.

[GreenerGrass]

http://www.marketoracle.co.uk/Article7101.html

Note use of word "doomed" in article.

[Crusoe101]

The Oracle in Swindon???????

Did she have a word with Neo?

[Cyberman]

The PM has gone hand in cap to King Saud - how much lower can he go?
Surely the king is pinching himself that this isn't a dream.

Probably the only country that will get cash from Saud is Pakistan - (and those pesky taliban). BoE rate drop .5% if any at all.

This reminds me of Denis Healey going to the IMF in 1976.

[Platypus]

This reminds me of Denis Healey going to the IMF in 1976.

yes, if only he'd cut interest rates sooner

[Cyberman]

yes, if only he'd cut interest rates sooner

Brown is cacking himself because he has given responsibility for interest rate cuts to Mervyn King and the MPC. His hands are tied(BY HIMSELF!!), but he knows that he needed sharp interest cuts months ago.

[Platypus]

Brown is cacking himself because he has given responsibility for interest rate cuts to Mervyn King and the MPC. His hands are tied(BY HIMSELF!!), but he knows that he needed sharp interest cuts months ago.

Yes... but as the link above says:

the Labour Government has significantly eroded the Bank of England's control over interest rates so that urgent action can be taken to prevent the recession from turning into an economic depression, this therefore increases the chances of a rate cut of far more than 0.5%, possibly even 1% at this Thursdays MPC meeting, as the targeting of inflation has now been effectively abandoned.

GB has to keep up the pretence, but I think it's clear to everyone that the BoE will deliver whatever GB wants.

[Cyberman]

Yes... but as the link above says:



GB has to keep up the pretence, but I think it's clear to everyone that the BoE will deliver whatever GB wants.

Yes, I think most people are now aware that the independence has always been a fallacy, but the fact remains that Brown has left it too late. It will now be impossible to turn the economy around before the next election, if it is in 2010.
My bet is that Brown may call an election early in 2009, before things can get too much worse, and to exploit the ignorance of the vast majority of voters.

[d000hg]

GB has to keep up the pretence, but I think it's clear to everyone that the BoE will deliver whatever GB wants.

Make up your damn minds people. Either bitch that GB is stupid for giving away control over interest rate, or bitch that he is making bad choices setting the rates. If he's so hopeless about understanding the economy, why does everyone complain about him delegating it to someone else?