Pre-Election Politics Dictate the Bank of England's Economic Policy
King, Stephen, The Independent (London, England)
Contrary to popular opinion, the UK gilt market - the market in government IOUs - has not yet collapsed, despite the ongoing increase in national debt. Nevertheless, following Alistair Darling's pre-Budget report, the gilt market has had a rather unpleasant wobble.
A few months ago, investors were mostly worried about the solvency of banks; today, their concerns have shifted to the solvency of governments. Reflecting this, gilt yields have risen, alongside yields on, for example, the Greek Government's bonds.
The pre-Budget report offered absolute clarity in only one respect: despite all the headlines about bonuses and bingo, the main decision was simply to …
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Publication information:
Article title: Pre-Election Politics Dictate the Bank of England's Economic Policy.
Contributors: King, Stephen - Author.
Newspaper title: The Independent (London, England).
Publication date: December 14, 2009.
Page number: 38.
© 2009 The Independent - London.
Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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