by The BoE’s decision to raise the Bank Rate to 0.75% is a mistake. It is a mistake comparable to those made by Alan Greenspan’s Federal Reserve in the years between 2003 and 2006. It is a mistake that must be understood in a wider context. Not just the political context – which promotes ‘monetary radicalism and fiscal conservatism’ – to quote David Cameron and George Osborne. But also in a wider monetary policy context. As the governor of the Bank pointed out recently: ‘the Bank is the only game in town’ … Read the full article on the PEF website Related Posts
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Ann Pettifor considers the following as important: 0.75, Bank of England, Financial Crisis, Interest rates, mark carney, PEF, politics
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The BoE’s decision to raise the Bank Rate to 0.75% is a mistake. It is a mistake comparable to those made by Alan Greenspan’s Federal Reserve in the years between 2003 and 2006.
It is a mistake that must be understood in a wider context. Not just the political context – which promotes ‘monetary radicalism and fiscal conservatism’ – to quote David Cameron and George Osborne. But also in a wider monetary policy context.
As the governor of the Bank pointed out recently: ‘the Bank is the only game in town’ …
Read the full article on the PEF website