Everything I (think I) know about the economy in 140 characters
With the shock move to cut UK interest rates by 1.5% in the UK just now I got to tweet my entire knowledge of the UK economy in just 140 characters - one for each of my grey cells. Prepare yourself. It’s a highly-condensed brain-shredder of a sentence:
I thought theory was quarter point cuts = good as they don’t send economy into tailspin. Are we in so much trouble we need six cuts in one?
Unfortunately I don’t even know if that’s correct, and I don’t have an answer. I just feel it smacks a little of panic to me so, in a Daily Mail moment, I needed to express this in the most knee-jerk manner possible.
However, the early reaction amongst those much more switched on than I am is: it’s a bold and necessary move to assist credit markets and help us pull out of our nosedive into recession. So in theory it could be a more considered act than I gave the Bank of England credit for, and we consumers may even start getting benefits passed down to us. Hurrah.
All eyes now turn to see what Official Voice of the Downturn™ Robert Peston has to say…
Digg It | Reddit | De.lic.ious
Comments (1)
November 6th, 2008 at 10:24 am Posted by Becky McMichael
Do you have an armband that says WWPD?
Post Your Comment