Spare us: We need more competence and less ideology from politicians, Hamish McRae saysIt is ridiculous, if you think about it, that it should matter whether central banks should make two cuts or three in rates this year, or whether they should start in June or September. On the other hand, which politicians end up running the show does matter quite a lot. So a different government in the UK can fiddle with tax and spending, and bring in different regulations. It is the difficulty in getting inflation back on target that makes central banks hesitant to cut rates. That said, there are reasons to think the next three or four years will be modestly successful for the economy.

Source: Daily Mail June 01, 2024 21:05 UTC