Mott says MPC's credibility is in shreds

The MPC's credibility has been shredded by its behind-the-curve interest rate policy, according to PS...

The MPC’s credibility has been shredded by its behind-the-curve interest rate policy, according to PSigma’s Bill Mott. The Income manager, who has been calling for rate cuts for most of the year, said serious policy errors have been made. Last Thursday the Bank of England announced a shocking 1.5% cut, bringing the base rate down to 3% - the lowest level sice 1955. Mott first called for rate cuts at the beginning of January when he said they were needed to reduce the external inflationary pressures on the UK economy. He has agreed with the views of committee member David Blanchflower...