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Burning Issue: Does the Bank of England need to be more radical in cutting interest rates?



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Published Date: 04 September 2008
Yes

DAVID KERN,
Economic advisor to the British Chambers of Commerce
I FAVOUR quite radical action but without just slashing rates totally. We favour two quarter-point interest rate cuts over the next three to six months to 4.50 per cent by next spring. Probably one before Christmas and one early in the next year woul...



The full article contains 577 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 03 September 2008 10:26 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Interest rates
 
1

Active Sassenach,

Luton, England 04/09/2008 23:47:26
Braking news in this hour on this site. It makes you stop short and think.

British Chambers of Commerce whingeing again. Good job they are not the British Chambers of Commerce and Industry - BCCI - a redolent set of initials for what a Bank of Credit and Commerce International the British Economy could become if interest rates are cut.

In no circumstances must interest rates be cut or liquidity be renewed to deal with housing prices. That market must be allowed to correct and new monetary concessions focused on business investment. We must reduce the dependency of retail sales on illusory housing "wealth" and not import inflation by weakening the pound.

The weasel-worded 5 tests of Gordon Brown for not joining the Euro now show up for what they are. He did it to boom the economy on borrowing against housing inflation. But who's laughing now? Is the Euro yet strong enough against the pound for Gordon Brown to regret his decision not to join?

 

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