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i think the BoE needs to remember their purpose. Keep inflation at or below 2%

2

Comments

  • ILW
    ILW Posts: 18,333 Forumite
    I cannot think of many positions where you can constantly miss targets by 100% or so and not get booted out.
  • purch
    purch Posts: 9,865 Forumite
    Martin appeared quite vocal on the radio a minute ago about the lack of anything being done

    In other news, a bloke who set up a website telling people how to exploit loopholes and scam Banks said.........
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • FTBFun
    FTBFun Posts: 4,273 Forumite
    purch wrote: »
    In other news, a bloke who set up a website telling people how to exploit loopholes and scam Banks said.........

    And how to run away from your creditors by declaring bankruptcy.

    At least there's another major issue he's been involved in today:

    http://blog.moneysavingexpert.com/2011/04/07/nandos-%e2%80%93-the-worst-designed-public-toilet-ive-ever-seen/
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ILW wrote: »
    I cannot think of many positions where you can constantly miss targets by 100% or so and not get booted out.

    The BOE will never hit the "target" as their objective is to influence the future not today.
  • lvader
    lvader Posts: 2,579 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    all these other concerns are not theirs. do your job - raise interest rates.

    this is becoming a joke.

    Thank god they appear to understand basic economics and can make an impartial decision and not be presured into making a bad choice to satisfy people that are clueless.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Martin appeared quite vocal on the radio a minute ago about the lack of anything being done.

    Then you also heard the discussion on energy prices that are going to result in hefty increases in the next 12 months. There's a fiscal squeeze coming from a multitude of directions. No easy answers.
  • purch
    purch Posts: 9,865 Forumite
    their objective is to influence the future not today

    They probably should second Mystic Meg onto the MPC to replace Sentance :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • Degenerate
    Degenerate Posts: 2,166 Forumite
    Interest rates as a tool to control inflation act by reigning in the credit-driven expansion of money supply. Is the current inflation driven by excessive lending? Quite obviously not.
  • ILW
    ILW Posts: 18,333 Forumite
    Thrugelmir wrote: »
    The BOE will never hit the "target" as their objective is to influence the future not today.

    That would suggest they got it wrong in the past.
  • greggymagic
    greggymagic Posts: 172 Forumite
    Part of the Furniture 100 Posts
    ILW wrote: »
    I cannot think of many positions where you can constantly miss targets by 100% or so and not get booted out.

    Playing centre forward for Tottenham Hotspur! ! ! Those idiots always miss the target and yet are still there!!!

    Poxy Real Madrid! Grrr
    I don't have to run faster than the bear.....I just need to run faster than you!
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