Comments: Shadow MPC votes overwhelmingly for no change in rates

Seems as though a split is developing in the SMPC. Five show a bias (in most cases a strong bias) towards further tightening, and three have a bias towards easing. Only one has a neutral bias.

Anyway, we will know far more next month when the summer hiatus in the credit markets finishes and we see whether the current crisis of confidence persists. If things aren't fixed by this time next month, we will know that the problem is not a temporary one.

Posted by Minh at September 2, 2007 10:44 AM
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