Jeremy Warner's Outlook: Rarely has the policy dilemma looked so hard as the spectre of inflation spooks MPC (Independent)
Story date: 2008-04-10 04:42:23
Added on: 2008-04-10 21:26:56
Just how low will official UK interest rates go? For the time being, it is an almost irrelevant question. The Bank of England could have cut rates by 50 basis points yesterday, or even the full 100, and still it would have made little immediate difference to underlying monetary conditions.
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