I am writing this against the backdrop of the Monetary Policy Committee's decision to cut the base r...
I am writing this against the backdrop of the Monetary Policy Committee's decision to cut the base rate to its lowest level in the Bank of England's 314 year history, although perhaps the bigger story is whether or not they cut enough - which I suspect they did not. Either way, this year will see global rates descend to record lows and it will surely not be long until the MPC is forced to review its stance. The problem is, with rates so low, each cut proves less successful in terms of stimulating economic activity. On a global level, I believe we will continue to see rafts of negative new...
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