Friday, December 02, 2005

Laid end to end…

Or so the old joke goes – if all the economists in the world were laid end to end, they still wouldn't reach a conclusion.

Bankers, though, are a different breed and, according to the Telegraph, enough of them on the ECB yesterday rose to the challenge and raised interest rates a quarter point to 2.25 percent - its first monetary tightening for five years.

Explaining the background is Ambrose Evans-Pritchard, in an opinion piece. Being an economist by profession, Ambrose doesn't reach a conclusion – or does he?

Worth a read.

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