Bank of England slashes interest rates to boost house prices

[Gonzo]

They chose a great pic of Mervyn King to accompany that story. He looks worried. Very worried.

I would be if I had his job.

His remit is to keep CPI inflation at 2%. To achieve that he can do one of three things:

1. Put interest rates up.
2. Leave interest rates on hold.
3. Put interest rates down.

But it doesn't look any of those three options is likely to make any difference in the current climate.

An expression involving a hard place and a rock springs to mind.

[Xenophon]

They chose a great pic of Mervyn King to accompany that story. He looks worried. Very worried.

[DimPrawn]

http://www.telegraph.co.uk/money/mai...bcnheld107.xml

The MPC opted to leave rates unchanged after weighing up the twin threat of rising inflation and the sharp slowdown in the British economy, which is increasingly at risk of sliding into recession.


Daring types aren't they?