Emeritus Prof Christopher May on Nostr: This is driving me nuts (as you may have gathered); another discussion of the state ...
This is driving me nuts (as you may have gathered); another discussion of the state of the British economy, that while mentioning BoE/MPC interest rate policy, omits its central role in engineering the current quasi-recession.
I'll say it again; for 18-24 months the BoE has had an explicit policy of dampening down economic activity to reduce inflation... this (albeit compounded by other factors) has led to the slowdown, not Labour's short Govt & its budget!
#recession
https://www.theguardian.com/commentisfree/2024/dec/28/the-observer-view-on-the-uk-economy-dont-despair-signs-of-growth-are-emerging
I'll say it again; for 18-24 months the BoE has had an explicit policy of dampening down economic activity to reduce inflation... this (albeit compounded by other factors) has led to the slowdown, not Labour's short Govt & its budget!
#recession
https://www.theguardian.com/commentisfree/2024/dec/28/the-observer-view-on-the-uk-economy-dont-despair-signs-of-growth-are-emerging