Blanchflower: I told you so on rate cut
David Blanchflower, an external member of the Bank of England's Monetary Policy Committee (MPC), criticised his fellow committee members for not taking a forward-looking approach, which meant rates had stayed too high too long.
Blanchflower, who is often portrayed as a so-called "dove" for favouring rate cuts, on Wednesday took his fellow policymakers to task for being too sanguine about the state of the British economy: "As recently as August, the MPC's Inflation Report projections indicated
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