Exactly how low does Sterling have to go and how high does inflation have to go before the media stop talking up the 'need' for rate cuts. Enough is enough, stop trying to reinflate the credit bubble!

Paul, Coventry,

i am not concerned with the losses for the bank. they made their deal and over leveraged themselves so they should pay the price. according to ian we should be paying more interest so the banks can reduce their losses.
from where i stand the high interest point only helps the banks. if the interest point comes down by 0.5 % to 1% normal people(who have decent credit history) like us can then remortgage or restructure our loans etc. this would take off the pressure coming in from high inflation and higher day to day costs. what money i can save of my mortgage and loans etc can be used for my higher living costs but if the interest point stays high and the economy goes in a downward spiral how do the normal folks survive??
please enlighten me if what i say is wrong

tarun, birmingham, uk

Its widely accepted that our rate of borrowing is unsustainable, so why does he want to postpone the inevitable? Rates should not be cut to maintain the housing bubble and devalue the pound in the process. Do these MPC doves have large portfolios of investment properties by any change?

L Mckay, Newcastle, Tyne & Wear

Interesting to see that the previous contributors both live overseas ? where they are no doubt shielded from the daily realities of life in the UK under an incompetent Labour government. As for the Bank of England, talk about fiddling whilst Rome burns !

Nodders, Staff,

Does Sir John not realise that an interest rate cut by the BoE is unlikely to have any effect on the market? The banks cannot afford to reduce their own rates and they need every penny to cover their losses. Confidence has gone and the market is heading for a sharp correction. No amount of cutting by the BoE will change that until the correction is complete.

Ian, London, UK

The interest rates should remain the same.Any attempt to lower the interest rates will only delay the financial and other economic problems for a later date in a worst financial and economic storrm.I believe that the US will face worst economic problems at a later date.All these economic problems are the result of Greenspan's low interest rates.

NICHOLAS, LARNACA, CYPRUS

He only has one word in his vocabulary - CUT

Yorkie, Amsterdam,