Still deflating....
Kings going swedish..
Sept. 15 (Bloomberg) -- Bank of England Governor Mervyn King said policy makers are considering lowering the rate they pay financial institutions to hold reserves at the central bank to encourage lending. cont..
King Says BOE Considers Cutting Reserve Deposit Rate (Update3) - Bloomberg.com
What were they thinking two years ago?
King:
Britons should not expect another cut in UK interest rates for at least two years, the Bank of England indicated yesterday as it warned that inflation would rise far above its previous forecasts and persist at levels well above the government’s target until early 2010. cont..
That FT front page is hung up on quite a few walls.....
Money supply & credit ( take a look at the Feds own weekly MS figs) is still contracting and we know what that means for the airline industry..
Inflationists seem to have gone very quiet, which is a little disconcerting
