Rat and Mouse
Thu
08
Nov
Interest rates

No movement. Base rates remain at 5.75%.

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No rate cut from the ECB either. And the Fed have said they're done cutting. Looks like the central banks have figured it out - rate cuts just won't save the housing market, they may as well not bother, and avoid creating hideous inflation at the same time.

Cuts to the overnight rate will not help move long-term rates (and therefore mortgage rates) down. It hasn't worked in the US and it wouldn't work here.

Posted by Anon at November 8, 2007 7:31 PM


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