Is the Bank of England monetary committee INCOMPETENT ?

ScoobyZ

Dan_Collins wrote: »

They did the right thing today#SCOOBY EDIT: "last month"#. They should never have let them go so low, thats the mistake, but then again they did not know that ppl would go out and borrow as much as they can because they can afford it. Borrowing is only one part of the subject, you have export, inport and other economics!

We need stability now, things have been hectic the last few months with mortgage lenders moving rates up and down and releasing new rates after bringing them out the week before.

I think we need to see out the year as we are. 5.75% as far as borrowing goes is fine. If it goes down it will come back up again, this breeds chaos and more confusion.

We now have issues with fuel and the US thing will be just a big an issue next year as it has this.

Well a month later and suprise suprise. All the doom and gloom merchants are out and they cut Interest rates. They should have done it last month. Next will be the poor retail figures and another cut.

Even a numpty from housepricecrash.com was online saying house prices will drop 33% lol. They have been saying that for years.

I think they needed to do a 0.5% cut or maybe more, but I gues they like to say we have cut rates x number of times. Keeps the chancellor happy with an election due in the next couple of years.