Leaning against the wind talk hot air: BoE's Bean

Charlie Bean, the deputy governor responsible for the Bank of England's monetary policy, has rejected claims that countering asset-price bubbles with rate hikes would have tempered the worst of the financial excess that triggered the credit crisis.

Bean said on Monday that even if the Bank had foresaw the virulence with which the crisis would unfold, raising interest rates in the 2004 to 2007 period would have had little impact. "Aside from the fact that this would probably not have shielded us

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