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Just a note on interest rates

Note the source, ICAEW. As one ICAEW member is stating:

He could, of course, simply tell the Bank of England to stop and then reverse its wholly unnecessary interest rate increases that will have no positive impact on the control of inflation.

Dunno really, positive interest rates might be an amusing change.

7 thoughts on “Just a note on interest rates”

  1. What interested me more was Stage 2 of the process, as enunciated by Clive Parry in the comments:

    Clive Parry says:
    December 8 2022 at 9:00 am

    Hunt could tell the BoE what to do…. but in any rational world the Bank would not need telling – it would be doing it anyway.
    Whilst lower (or at least not rising) rates are the correct short term response to housing poverty more needs to be done. Controls on ownership, rents; credit controls etc. need to be considered.

    Richard Murphy says:
    December 8 2022 at 9:04 am


    So this will solve the issues
    – Ownership controls – you won’t be allowed to own property
    – Rent controls – your rent will be capped
    – Credit controls – you won’t be able to borrow money

    Nice to see the next phases of ‘The Green New Deal’ – who knows what else he has in store?

  2. You should also note this Worstall, and ‘note it good’

    We are in urgent need of political renewal, based on strong ethics, empathy, sound economics and clear thinking. We are a long way from that. It’s not just the Tories in trouble in that case. The whole system is, and by refusing to embrace PR Labour is enabling this. The sense of alienation from this total mess can only grow, and that’s not good news.

    Fortunately there’s a semi -retired ‘accountant’ in Ely for hire who has
    – ‘strong ethics’ (Strong enough to get barred from hostelries in Downham Market)
    – ’empathy’ (So much so he has blocked 20,000 people on Twitter)
    – ‘sound economics’ (as we can see from the current Cost of Living crisis caused entirely by MMT) and ‘clear thinking’ (So much so that contradictory ideas are frequently posted in the same blog entry, let alone across different weeks)

    Yes, cometh the hour, cometh the potato.

  3. “Empathy”

    This from the cvnt who describes the conservative voting round about 50% of the population as fascists and racists and who, when asked to reconsider his intemperate comments, “makes no apology”!

  4. Does the P3 know the difference between -ve and +ve? I wonder if this basic ignorance is behind his increasingly moronic utterances.

  5. the idea of creating an independent Bank of England and then telling it what to do is an interesting one. Almost a perfect description of the Gordon Brown world view.

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