Summary
THE Bank of England's monetary policy committee has been deliberating again this week, not about whether interest rates will be cut but by how much. The risks are all on the downside in that no one considers inflation to be a threat in the near term, while the prospect of a prolonged and quite deep recession looms large.
Last month's dramatic move, in which rates were slashed by one- and-a-half points, has created an appetite for more of the same in some circles. A growing body of opinion, particularly in the City, thinks the sooner rates get to zero, the better. They are sure to be disappointed this time, however, because there are still those on the committee who are anxious that they don't overdo it.See the full content of this document
Extract
Banks in Lending Dilemma
Interest rate changes take a long time to work through. Though it seems unlike...
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