I found this quite an interesting article, arguing for large interest rate cuts in the base rate to try and bring us out of the slew of recession.
The Bank of England's folly will send us into depression
I am no financial whizz, but to me this seems to me to make the most logical sense... A sharp cut in rate frees up money for a great many mortgage payers, who will then have more to spend each month in the shops. You can argue it is just the boom & bust cycle all over again though and I'd be hard pushed to find any argument against that.
What is telling is supposedly 4 Million unemployed by 2010 as well some experts reckon... There's a cheery thought on a Monday evening...
The Bank of England's folly will send us into depression
I am no financial whizz, but to me this seems to me to make the most logical sense... A sharp cut in rate frees up money for a great many mortgage payers, who will then have more to spend each month in the shops. You can argue it is just the boom & bust cycle all over again though and I'd be hard pushed to find any argument against that.
What is telling is supposedly 4 Million unemployed by 2010 as well some experts reckon... There's a cheery thought on a Monday evening...