Financial Services Industry
Industry: Email Alert RSS FeedMervyn is braced for a googly.(Mervyn King)
Financial Adviser, August, 2005 by Naisbitt, Barry
A win in an Ashes test is obviously worth celebrating. English cricket fans will have been thrilled, not only by the victory in the second Test, but by the quality of the cricket and the gripping drama that the match provided.
It would not be too unkind to say that the Monetary Policy Commission's decision to cut base rates by 25 basis points to 4.5 per cent was not in the same league as that, at least as far as drama goes.
It may, however, have given rise to as much, if not more, pleasure for mortgage borrowers and retailers.
There were echoes of the cricket in the MPC's decision or, more strictly, Mervyn King, governor of the Bank of England's comments following the decision.
He seems to have become fond of using sporting...
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