Emeritus Prof Christopher May@ChrisMayLA6@zirk.us
So the BoE/MPC have cut interest rates (by 25 basis points) to 4%, after a second vote was forced as there was no majority position in the first vote.
Lots of talk of decisions on a 'knife edge' and the need for continuing caution due to the ongoing presence of 'inflationary pressures'.
Meanwhile the stagnation that has been the aim of BoE policy (preferring stagnation to inflation) continues - at some point the sado-monetarists will admit we've suffered enough, but not quite yet!
#economics