> This is why the whole country
> hangs on the policy of the Reserve Bank - the blunt instrument of changing
> the wholesale lending rate in order to change the mortgage rate in order to
> affect consumer spending is ridiculous, and is not done in any other country
> (to my knowledge).
Yanking interest rates around is the only economic lever the Bank of England
seems to use these days. Up to 6% yesterday, which I think is twice the Euro
zone rate. Ho hum.
BTW, what other means of controlling domestic demand are available to Mr
Greenspan and co.? Credit card rates are surely set by the companies, taxation
- well, hoicking that is really popular in North America.
--
Jim Hague - [EMAIL PROTECTED] (Work), [EMAIL PROTECTED] (Play)
Never trust a computer you can't lift.
--
SLUG - Sydney Linux Users Group Mailing List - http://www.slug.org.au
To unsubscribe send email to [EMAIL PROTECTED] with
unsubscribe in the text
