Monty's Mortgage Blog

04.09.08 by Andrew Montlake

Bank of England Base Rate held at 5%

September 2008

Once again the Bank of England has shown caution, a reluctance to make the rate cut that is urgently needed because of its strict remit to control inflation.

But sometimes you have to play it as you see it, take action even if that action means you’re not doing things strictly by the book. If we continue with this wait-and-see approach for much longer, it will be a case of waited-and-wished-we-bloody-well-hadn’t.

Comments

Comment by Andrew Montlake | 2008-09-05

Everyone is entitled to their view Mr Anon. Actually I think you will find that the very intelligent Professor David Blanchflower, and member of the MPC, has been very outspoken in feeling that we need to go even further and cut rates now by at least a half, as I covered in a previous blog post. So, it would seem that I am not in the worst of company in arguing there should be a cut soon.

Comment by anon | 2008-09-04

Oh please. Mervyn King and co are dumber than a bunch of mortage pushers?

« More blog comments

Comment on this blog story