
Dear Reader, “We believe the pound is going to fall HARD this year”. That was the warning my colleagues at The Fleet Street Letter issued in November 2007. Back then not many people listened. Why would they? The pound had just reached an eye-popping $2.11 – a ...
Monetary Policy
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The world’s press spoke with one voice over the weekend:
“Now, the hard part...!”
“Obama faces huge challenges…”
“Not an easy time for President-elect...”
And for once... the press is right. It won’t be an easy time for Obama’s team. But the President-elect ...
"I can’t see that happening. It would cause mayhem in the stock market and that’s not what the Bank wants." I was replying to colleague Theo Casey’s "off the wall" suggestion yesterday morning that the Bank of England could cut rates by 200 basis points. We were ...
If you watched the news last night or have read the newspapers this morning, you can’t have missed it. The British economy is going down the tubes. Bank of England Governor, Mervyn King, says the UK is likely to go into recession. Gordon Brown agrees. Analysts at ...
"Everything’s just so expensive!" This was from my South African friend, Alex, who was working out her household bills yesterday. She’s been in London for less than a year, and is still adjusting. I was reminded of her comment this morning by something I saw ...
In case you’ve missed it, there’s been a credit crisis. A ruddy big one. Now the initial pain and panic has subsided, the time has come for reflection. How can we make sure this doesn’t happen again? Paul Tucker, a member of the Bank of England’s Monetary ...
"Long-term — nuclear. Short-term — coal." That pretty much sums up commodities expert Garry White’s position on where Britain — and the world — will get its future energy from. We’re in the middle of a massive energy crunch. The most cursory glance at an oil ...
I was delayed on my way in this morning. By the Luftwaffe. Yes, an unexploded bomb in east London played havoc with the District Line. Oh, and to the young man who threw a strop at South Kensington – there really was no more room in the carriage. You can’t ...
Freedom!
It’s taken us almost half the year, but we’re finally free! Free from the shackles of state oppression!
No, I haven’t turned into a student communist. If you’re wondering what I’m talking about, today is Tax Freedom Day — the day when the average ...
I really should start hanging out with Jean-Claude Trichet, the president of the European Central Bank (ECB). We’ve got so much in common. Maybe I’ll ask him if he fancies a pint next Friday.
Regular readers will recall that a couple of weeks ago I proclaimed ...
Monetary Policy
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