Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (25568)	1/7/1999 9:34:00 AM
From: Zardoz	Read Replies (2) \| Respond to of 116816

Thursday January 7, 10:54 AM Be Bold And Cut Rates, TUC Tells Bank The TUC urged the Bank of England to make "bold decisions" on interest rates, cutting them by a full 1% to help avoid a recession. The bank's monetary policy committee will announce whether it has decided to reduce the 6.25% rate. Many city analysts expect it to remain unchanged because of uncertainty about how busy retailers were over Christmas. But the TUC said the bank should "carry on cutting" and in coming months until interest rates fall to about 4%. TUC general secretary John Monks said: "Bold decisions are needed on interest rate cuts to avoid recession and secure the right exchange rate for EMU entry. "The inflation threat from wage negotiations is non-existent. "Price levels in the UK are being kept high by excessive profit margins which are being given as short-term payouts to shareholders rather than being used for long-term investment purposes." Comment: The bank cut by 0.25%, and so you'll see a technical rally on short covering in the futures. Had they cut by 0.50% gold probably wouldn't move.