Spot on NR.
An increase in interest rates will have virtually no effect on inflation. It is nearly all fuelled by construction, food and energy demands of emerging economies. It will, however, lead to around 17,000 UK home reposessions according to the BBC.
I used to work for a 'big 5' accounting firm and was billed out at a similar rate. My manager was on mega bucks and knew less about economics than a GCSE student. A long career in these companies simply means that they passed a few exams and kissed a lot of ass. Somthing I was not willing to do!
EK