Peter Rollings commenting on today's decision from the Bank of Englands MPC
Thu 07 Aug 2008
"We should be ahead of the game in order to boost the economy. Everyone knows interest rates take at least a year to filter down to the man on the street not cutting rates now is just prolonging the pain for people. Rising food and fuel costs are already curbing consumer spending and hitting inflation on its head the Bank of England should have had the courage to cut rates today. Im disappointed they chose to sit tight.
The only silver lining is for buyers who are able to raise finance because of depressed property prices, there are some excellent bargains at the moment - there is real value in this market."