Thursday, 6 November 2008
Going Down the Swanee . . .
Well I've never known the BofE be so decisive before. Darling/Gordon must have leant heavily on dear Mervyn for this decision. MyMan and I had bets on what the new interest rate would be. He thought the cautious Bank of England could opt for 'half way house' and fix on 0.75% rate reduction. I said that as the news seems so bad perhaps they'd go for 2% - I was very nearly right. I wished I'd placed a bet on it.