Who to believe?

August 27, 2007
Posted in Current affairs |

"Bank of Ireland’s chief economist Dan McLaughlin said there would be no more rises in the medium term."

vs

"A week ago, investors bet that the global contraction in credit would prevent the ECB lifting its benchmark rate from 4 percent. That view is now in doubt after the ECB on Aug. 22 loaned an additional 40 billion euros ($55 billion) to banks and said it was sticking to the policy stance expressed by Trichet on Aug. 2. Then, he promised “strong vigilance,'’ a phrase used to foreshadow each of the eight rate increases since 2005."

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