Wednesday, November 21, 2007
7-2 - and a surprising dove
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The Bank of England monetary policy committee's vote to leave Bank rate unchanged at 5.75% was clear cut, 7-2, though Sir John Gieve, the Bank deputy governor responsible for financial stability, surprised by joining David "Danny" Blanchflower in voting for a cut. The argument came down to whether the data justified an early cut, which most thought it did not, against whether acting soon might prevent a sharper slowdown, and thus the need for deeper cuts later. There was no obvious indication that the majority view is ready to shift quickly. The minutes are here.

Comments

Well blow me down. David Blanchflower voting for a cut!
What a surprise....NOT. Guess this guy doesn't give to hoots about real inflation - why should he - he doesn't have to live here.

Danny Danny where's your wife.... ;)

Posted by: Kev M at November 26, 2007 09:08 PM

There's no need for snide remarks, particularly given your clearly very limited economic knowledge.

Posted by: David Smith at November 26, 2007 10:43 PM