No Change

Just a short blog on this sunny Friday. As expected Interest rates are unchanged and The Bank of England took the unusual step yesterday of issuing an explanatory statement with a no-change decision on interest rates - highlighting uncertainty over the impact of financial market turmoil but also noting ongoing inflationary pressures.

Business leaders welcomed the decision by the Bank's Monetary Policy Committee to stand pat on base rates at 5.75%. The turbulence in global credit and stock markets had made this hold call a foregone conclusion, in stark contrast to indications in the Bank of England's latest inflation report less than a month ago that there might be a rise.

The European Central Bank hung fire yesterday on benchmark interest rates in the 13-nation eurozone, quashing fears that a pledge on Wednesday to "act accordingly" might have been a harbinger of another quarter-point rise. The ECB held eurozone rates at 4%

I have received a communication from one of our bloggers out there and it refers to a competition! Fantasy CEO no less!

Details can be found here http://business.timesonline.co.uk/tol/business/related_reports/business_evolution/fantasy_ceo/
This may be of interest to students doing Financial Management within the Chartered Banker qualification. There is a prize involved however, I must stress that this not from CIOBS! and of course CIOBS is not responsible for the content of external internet sites.

Well a very interesting week. Please keep the comments and suggestions coming. It is great to hear from you.

The weekend weather forecast is good for this part of the world and in many other places. So whatever you are doing and whoever you are doing it with have a good one.

Michael ( Looking forward to a good one)