by Ben Wright
So, the Bank of England has cut interest rates by 0.25pc – the first time that it has touched the base rate for seven and a half years. Is it the right call? Your answer to that question may be somewhat shaded by whether you are a borrower or a saver.
In truth the members of the monetary policy committee probably had little choice. At their last meeting, in the immediate aftermath of the UK’s referendum of membership of the European Union, they sat tight, arguing for more time to see what impact the vote would have on the economy.
Fair enough. But the noises made since by many members of the MPC had left very little room for misinterpretation.