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Emeritus Prof Christopher May /
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2024-08-01 15:13:30

Emeritus Prof Christopher May on Nostr: Well, I was wrong; the BoE/MPC have cut interest rates (slightly) for the first time ...

Well, I was wrong; the BoE/MPC have cut interest rates (slightly) for the first time in 4 years

but four of the committee voted against the cut & we're being told not to expect an accelerated series of reductions.

So (qualified) good news for many, but the squeeze the sado-monetarists have engineered remains pretty painful, even if they are now offering some sort of light at the end of the tunnel...

which, of course, may just be another train coming towards us.

#interestrates #inflation
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