The bank keeps feeding us rate cuts. But the economy looks to need healthier sustenance
Yet another interest rate cut in the UK! But Meester King, you are spoiling us! Have some more money ' no, please do help yourself. There is plenty more where that came from! But what is this? Ungrateful beggars! The reaction to our central bank's munificence is, well, precisely nil, nul, nothing at all! Could it be that the punters are crammed to the gunnels with credit, and they just can't fit one more melting morsel into their mouths? In continental Europe, of course, the monetary monarchs know how to treat the lumpen investoriat. European Central Bank president Dim Wuisenberg, in an e...
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