The chances of a cut in interest rates have increased after two members of the Bank of England’s key policy body responded to a growth downgrade – inspired by Brexit and a trade war – by voting for cheaper borrowing.
Rate cuts in the US and in the UK: Feels like Dorian Gray... only which is the old rouee and which the young ne'er-do-well?
Clearly bank governors around the world see that negative interest rates maybe the only way to redistribute wealth caused by the severe income inequality now, as political leadership refuses to come to grips with the harmful effects of this on the economies they try to manage.
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