Bank of England leaves rate unchanged as it prepares to receive Mark Carney

Thursday, June 6th 2013 - 23:26 UTC

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The Bank of England on Thursday voted to keep its main interest rate at 0.5% following a monetary policy meeting, the last for departing Governor Mervyn King. The BoE also decided against creating more cash under its Quantitative Easing (QE) program that is aimed at boosting growth amid Britain's fragile economic recovery. Read full article

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ChrisR
Carney is in the same mould as King: QE, QE and more QE only he called it monetary stimulus.

Ideas ONE: he held the rate conditional for a whole year thus inspiring confidence in going forward - that was an inspired move which worked for Canada but those times and parameters no longer apply.

Let's hope he can come up with another idea.

But just in case he cannot, I have this week brought ALL my remaining money over to Uruguay prior to any disaster and it seems I am not alone in the betting: take a look at the GBP / US Dollar rate in the last two days.

What does Osborne want: so far he has overseen the destruction of the currency and lowering the wealth of the nation for who knows what reason because none of it makes sense so far.

I will go as far in saying that the embryonic recovery is in spite of government actions NOT because of them.
Jun 07th, 2013 - 02:24 pm - Link - Report abuse 0
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