Home > Economy, Great Britain, Housing, Labour Party, POLITICS > Reduce interest rates now.

Reduce interest rates now.

The Bank of England Monetary Policy Committee is due to decide the base interest rate today. It would be sensioble to reduce the current rate bt a significant amount in order to restore economic confidence, to prevent job losses, to stimulate the housing market. The obsession with inflation rate is unhealthy, most of this is caused by imported inflation: energy and food prices beyond control of the domestic market.

Unfortunately, it is more likely the idiots on the M.P.C. will not reduce the basic interest rate this will only compound our economic woes and lead to more job losses and bankruptcies. Only a substsantial reduction in the base interest rate will stimulate economic growth.

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