Wednesday, December 19, 2007
MPC voted 9-0 to cut
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The decision to cut Bank rate from 5.75% to 5.5% earlier this month was, after all, clear cut. All nine members, including the hawks, voted to do it. Financial market conditions had deteriorated, they said, and the medium-term downward risks to both growth and inflation outweighed upward pressures in the short term. Hard to argue with that. The details are here.

Comments

I have to admit, thats still somewhat of a surprise.

Posted by: JohnofScribbleSheet at December 19, 2007 02:15 PM
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