ECB Rate Outlook from Irish Bank Economists - Austin Hughes somersaults from 3 interest rate cuts in 2008 to “strong possibility of a further ECB rate rise in September or October”
Jul 4th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
ECB Rate Outlook from Irish Bank Economists - John Nance Garner, Franklin D. Roosevelt's first vice president, is most noted for saying that the vice presidency wasn't worth "a warm bucket of spit." Those who track the punditry of economists on interest rates, have reason to think likewise on the many prognostications in recent years. In the art of punditry from the spectrum of politics to sport, a brass neck is more important than prescience. In April 1973, Time Magazine reported that "White House Press Secretary Ronald Ziegler enlarged the vocabulary last week, declaring that all of Nixon's previous statements on Watergate were "inoperative." Not incorrect, not misinformed, not untrue—simply inoperative, like batteries gone dead." So how reliable are the "operative" statements on the ECB rate outlook?