Comments: Shadow MPC votes 5-4 to cut rates

David, in my opinion you are speaking the most sense here by a country mile. I'm amazed that nobody else really mentioned the wider context of tightening by most major central banks, the risks to sterling, and the risk of sending asset prices further into the stratosphere rather than stimulating the economy by cutting rates.

As for the gentleman who cited rising bad debts as a case for cutting rates, when it is in fact the lax lending due to low rates that has caused these bad debts - words fail me!

Posted by EL_Pirata at March 5, 2006 10:40 AM

They all sound like amateurs to me, and ego strokers.

Don't care about quality of life issues such as responsible lending and affordable housing.

Banker: I've managed to get people indebted up to the eyeballs, but now they are struggling to pay it all back.

Economist: No worries will just cut the rates and money will be growing on trees.

Posted by BillyTheFish at March 5, 2006 11:14 AM

How many times in modern history do "experts" need to be proven wrong for reality to sink in?

Trust anecdotal evidence. Soaring unemployment, sky-high property prices, record high bad debts and Euroland is raising interest rates, but according to these gentlemen, the answer is cutting interest rates?

Stop tippy-toeing around the elephant in the living room. Raise interest rates and bring asset prices down to long-term averages in line with the IMF recommendations. If you lower them any further they'll stop having any affect at all.

Posted by Paul Owen at March 6, 2006 12:14 AM

In previous minutes Peter Warburton has cited low private sector goods and services inflation as a reason to cut. Where can I find and follow this measure? Is it in the CPI release - I don't think it is - or do I need to construct it? If so which components has he taken out?

Thand and regards Ian Amstad

Posted by Ian Amstad at March 21, 2006 02:26 PM

My question goes to Ian Amstad and it is this. I am looking for a relative by the name of Ian Amstad who lived in Bexhill, Sussex in the 1950's. Would you be that person?

Posted by Robert Butterworth at May 5, 2009 12:20 PM

Robert - no because I was born in 1963 - but please email me, because you have piqued my interest - Ian

Posted by Ian Amstad at August 14, 2009 08:57 PM