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Breakingviews: Bank of England's stiff test

Friday, December 05, 2014 - 03:57

The Bank of England's lower borrowing costs helped George Osborne plug a hole in the UK's tax receipts. But now it's critical Mark Carney is seen to be making his own decisions, says Breakingviews.

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Then just does count and just how much press shot. Does and should Marconi bank Lehman government feel. On the back of George Osborne's. Media budget if you like last week I am. Quite a bit according to George Strait who rat has written piece of breaking news joins you this year I'm it was. It was it would it must've been a tough listen for for content this actually. Yeah I mean what what you want if you're central mines and covenants to prevent the kind of real. Chinese both you know it's different space in between you'll monetary policy and fiscal policy of the government. Mac. Mistakes in that bed bale actually bad management. The the issue is what to a vote won't say in this. On Wednesday it was. He'd been able to kind of effectively. Keep his deficit reduction. Programs on track. Partly because that's been a foreign cults. That and activate and he can pretty much practical. Pretty lemmings yet and with a great sense he's right about it says the program is still on track and instinct thing woes says I am happy no meaningful these borrowing costs then he would I think that the companies are more radical in order to keep track. And I think that's the key point here because if you'll ambiguity myth of the Bank of England you'll be well no. Okay well we just said rates. Unit and economic. Climate makes it. Probably a good thing to keep rates and late. But it's Monday. And people get a hang on a minute you know isn't that bit of it means. It's BOT convenient. And hopefully he did you eat it won't back an amendment. Classic suit for the yes. Contrary in cynics like it's well to get that ultimately. Everyday there's this there isn't it there's a series put it this kind of if it's important if you laws into mind no evidence. That you have this them home to independence. And and the point is in coney felt out it's just them the way that the Texans pugsley and. Absolutely not I'm the fact that Osborne had time to talk. As his big car. Yeah I'm I'm you have witnessed yet the next yet it I mean opus again zest sort of subconscious deception. Cup point but you think the point of the yen thoughts what should be doing all we can't underlined that political considerations tend to influence rates this. How he wanted to. Do. Well to me is just around saying well I think that's based on what you what beaten that. But when I would I would regret either the highlights this clemency an employee. If you know a bit of the problem is. If you listen you know it is today if it when it's a different thing to say. OK well then it did. We have expected reduction program and track. I'm independent and otherwise would have done because of the you know these these that Oracle's. Affects. Have helped me this time you know. Think it's not back to what they get in minutes ago the men I mean. Okay thanks to it but it may be asking too much Republican since he putted that. The it's those kind of rove underline the it's. There's this perception problem. And patent battle hopefully he'll. You know about commitment and eat it won't happen but it. A great all right you can rejoice preset course on the breaking news web sites. And all the other pieces out of bring music writing out today from that's it for me have a good weekend on axles felt was as much as.

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Breakingviews: Bank of England's stiff test

Friday, December 05, 2014 - 03:57

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